Withdraw RBI's Supervisory Role Of Bengal Cooperative Banks: Mamata Banerjee To PM

Withdraw RBI's Supervisory Role Of Bengal Cooperative Banks: Mamata Banerjee To PM

The RBI was thus far overseeing the banks' capital adequacy, risk control and lending norms. West Bengal Chief Minister Mamata Banerjee on Tuesday expressed dissatisfaction over the Centre's move to transfer the supervisory role of state cooperative banks to the Reserve Bank of India, contending that it was against the spirit of cooperative federalism. The RBI was thus far overseeing the banks' capital adequacy, risk control and lending norms, while management responsibilities were entrusted to the Registrar of Cooperative Societies of the state government.

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