Cooperators are unhappy that not a single co-operator has been named to be on the Committee being formed by the Finance Ministry to suggest changes in the cooperative bank regulatory framework.
Earlier, in Mumbai Finance Minister Nirmala Sitharaman said the government would form a committee comprising top govt and RBI officials to suggest changes in the regulatory framework. The move has followed on the heels of the recent scam in PMC Bank.
The scam in the PMC Bank allegedly involves Rs.6,500 crore. The committee’s suggestions will be put before Parliament in the winter session.
Allaying fears of the PMC bank depositors, the minister said she would urge the RBI governor to ensure the depositors are allowed to withdraw their money without any difficulty.