FM to table Banking Regulation (Amendment) Bill, 2020 in Lok Sabha

New Delhi, Mar 19 (KNN) Union Finance Minister Nirmala Sitharaman will move the Banking Regulation (Amendment) Bill, 2020 for consideration and passage in Lok Sabha on Thursday.

The Bill aims to improve governance and regulation of cooperative banks and it was tabled in Lok Sabha in February by the Finance Minister. It also seeks to strengthen the cooperative banks so crisis PMC bank which occurred due to financial irregularities can be avoided.

Sitharaman had said in her budget speech that the government would amend the Banking Regulation Act.

"To strengthen cooperative banks, amendments to the Banking Regulation Act are proposed for increasing professionalism, enabling access to capital and improving governance and oversight for sound banking through the RBI," she had said.

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