Ministry of Cooperation – Explained, pointwise

Introduction In a recent move, a separate Ministry of Cooperation was created by the Government of India for realizing the vision of ‘Sahkar se Samriddhi’. As per the government, the Ministry of Cooperation would work towards strengthening the cooperative movement in India. Also, the creation of this ministry is in line with the Finance Minister’s… Continue reading Ministry of Cooperation – Explained, pointwise

PMC Bank gets some cooperative support, but revival to take time

What are the regulatory conditions for Urban-Cooperative Banks in India?  Context:  The Centrum-Bharat Pe combined and takeover a bankrupt urban cooperative bank. The RBI has also granted an “in-principle” approval to Centrum Financial Services and BharatPe to set up a small finance bank (SFB). This marks the first instance of NBFCs, high-net worth individuals and fintech being allowed entry in the urban-cooperative bank (UCB) space.   Regulatory conditions for urban-cooperative bank (UCB):  The RBI in 2019 brought… Continue reading PMC Bank gets some cooperative support, but revival to take time