The Reserve Bank of India (RBI) has tightened norms for utilising 'at par' cheques issued by scheduled commercial banks (SCBs) to cooperative banks for better transparency and supervisory control over co-operative banks.
Tag: co-operative banks
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Clean chit to co-operative banks
National Bank for Agriculture and Rural Development (NABARD) has stated that it has found no money laundering in co-operative banks, Nabard's Chairman Prakash Bakshi has stated. His statement comes amid
allegations of co-operative banks being used as conduits for money laundering. NABARD jointly regulates co-operative sector banks who lend loans.