Recent incident of PMC bank crisis forced the RBI to impose restrictions on Urban Cooperative Banks(UCB). Read about Prompt Corrective Action and Supervisory Action Framework, important for #prelims and #mains.
Recent incident of PMC bank crisis forced the RBI to impose restrictions on Urban Cooperative Banks(UCB). Now, they came under the regulations of RBI. Read about Banking Regulation Act and Supervisory Action Framework, important for #prelims and #mains.