While announcing a series of Cabinet Decisions, Union Minister, Prakash Javdekar announced the approval of an ordinance to bring Urban and Cooperative Banks under the supervision of Reserve Bank of India.
Cabinet approves an ordinance to bring 1,482 urban and 58 multi state cooperative banks under the supervision power of RBI.
It will give an assurance to 8.6 crore depositors in these banks that their money will stay safe.
[Source of Tweet: PIB India]
Cabinet