RBI may review co-op bank norms

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Reserve Bank of India Governor Shaktikanta Das  said “the RBI will not allow any co-operative bank to collapse” and the central bank will “review all the regulations” of cooperative banks and discuss it with the government if required.
When asked how the RBI was caught napping as the Punjab and Maharashtra Co-operative Bank scam was going on for around eight years, Das said the RBI acted very swiftly and promptly after it was brought to its notice. “The matter is under investigation. A complaint has been filed with the EOW.” Maintaining that cooperative banks are also sound, he said, “one incident cannot be and should not be used to generalise about the health of all cooperative banks.”

“The RBI will review all the regulations of cooperative banks and will discuss with the government if required,” he said.

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