Lok Sabha has passed the Banking Regulation (Amendment) Bill, 2020, to bring co-operative banks under supervision of the RBI in order to protect depositors' money. "This Bill does not regulate co-operative banks. The amendment is not for central government to take over the co-operative banks," Finance Minister Nirmala Sitharaman said. The Bill couldn't be passed in March due to COVID-19.
 

Lok Sabha has passed the Banking Regulation (Amendment) Bill, 2020, to bring co-operative banks under supervision of the RBI in order to protect depositors' money. "This Bill does not regulate co-operative banks. The amendment is not for central government to take over the co-operative banks," Finance Minister Nirmala Sitharaman said. The Bill couldn't be passed in March due to COVID-19.