Cooperative banks to be brought under RBI, govt says depositors will feel safe
The Union cabinet will promulgate an ordinance to bring all cooperative banks under the supervision of the Reserve Bank of India. Union Minister Prakash Javadekar said that the decision was aimed at providing comfort to depositors of these banks. There are more than 8.6 crore depositors in over 1,500 urban and multi-state cooperative banks across the country. Watch the full video for all the details.