educratsweb logo


President Promulgates Banking Regulation (Amendment) Ordinance, 2020

In pursuance of the commitment to ensure safety of depositors across banks, the President has promulgated the Banking Regulation (Amendment) Ordinance, 2020. (Click to view the Gazette notification on the Ordinance)

The Ordinance amends the Banking Regulation Act, 1949 as applicable to Cooperative Banks. The Ordinance seeks to protect the interests of depositors and strengthen cooperative banks by improving governance and oversight by extending powers already available with RBI in respect of other banks to Co-operative Banks as well for sound banking regulation, and by ensuring professionalism and enabling their access to capital. The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws. The amendments do not apply to Primary Agricultural Credit Societies (PACS) or co-operative societies whose primary object and principal business is long-term finance for agricultural development, and which do not use the word “bank” or “banker” or “banking” and do not act as drawees of cheques.

The Ordinance also amends Section 45 of the Banking Regulation Act, to enable making of a scheme of reconstruction or amalgamation of a banking company for protecting the interest of the public, depositors and the banking system and for securing its proper management, even without making an order of moratorium, so as to avoid disruption of the financial system.

https://pib.gov.in/PressReleseDetailm.aspx?PRID=1634684

President Promulgates Banking Regulation (Amendment) Ordinance, 2020
Contents shared By educratsweb.com

if you have any information regarding Job, Study Material or any other information related to career. you can Post your article on our website. Click here to Register & Share your contents.
For Advertisment or any query email us at educratsweb@gmail.com

RELATED POST
1. Union Education Minister launches Minimum Standards of Architectural Education Regulations, 2020
2. Need for providing a comprehensive and objective account of the historical events: Vice President
3. Union Minister Shri Prakash Javadekar releases e-book ‘Connecting, Communicating, Changing’ the Vice President of India’s three years in office
4. Ministry of Tourism organises second Independence Day themed webinar titled “Cellular Jail: Letters, Memoirs & Memories” under DekhoApnaDesh webinar series
5. Atal Innovation Mission and Dell Technologies Launch Student Entrepreneurship Programme 2.0
6. Webinar Organised On Technology Aspects of Remote Voting
7. Webinar on the occasion of the World Biofuel day organized
8. Prime Minister Shri Narendra Modi launches submarine cable connectivity to Andaman & Nicobar Islands (CANI)
9. Vice President calls for Knit India movement to fully realize Quit India goals
10. Shri G C Murmu Takes over as C&AG of India
11. IBBI amends the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017
12. Unlocking Online Dispute Resolution to Enhance the Ease of Doing Business
13. IBBI amends the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016
14. Vice President asks civil servants to be pro-active change-agents in building a New India
15. PM delivers inaugural addresses at the Higher Education Conclave
16. English rendering of text of PM’s speech at Higher Education Conclave
17. TRIFED Reiterates its commitment towards transformation of tribal lives on the occasion of its Thirty-Third Foundation Day
18. IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
19. Dawn of A New Era of Peace, Progress & Prosperity in Jammu, Kashmir and Ladakh : A Series of Road & Highway Projects to Give Impetus to Growth
20. Vice President reads Ramayana with his wife at Upa-Rashtrapati Nivas on the occasion of the Bhoomi Pujan in Ayodhya
21. Trifed Launches its Own Virtual Office Network to Spearhead Tribal Socio-Economic Development on its 33rd Foundation day
22. Aatma Nirbhar Bharat Package – Progress So Far
23. CCRGA issues notice to Government of NCT of Delhi
24. MoRTH notifies regulations for tyres, safety glass, external projections, etc under CMVR
25. Manual Testing Online Course
26. To combat Covid -19 , RCF comes out with a new product : Hand Cleansing Iso Propyl Alcohol (IPA) Based Gel
27. Indian Council of Agricultural Research celebrates its 92nd Foundation Day
28. Jal Jeevan Mission: Arunachal plans 100% tap connections by 2023
29. 16 Seaplane projects will be the reality soon
30. English rendering of PM’s address in the 14th Episode of ‘Mann Ki Baat 2.0’ on 26.07.2020
31. Central Government allows contributions from any person or institution in the National Disaster Response Fund (NDRF)
32. Ministerial meeting of Indo-US Strategic Energy Partnership highlight major accomplishments, prioritizes new cooperation areas
33. Key Accomplishments and Action Plan of Sustainable Growth Pillar under India–US Strategic Energy Partnership
34. Teach children how to navigate through misinformation and fake news – Vice President
35. Union Shipping Minister flags off first container ship from Kolkata Port to Agartala via Chattogram port
36. DST launches INR 15 Crore fund to support India-Russia collaboration joint R&D and cross-country technology adaptation
37. Single window system to be set up soon for industrial clearances and approvals;
38. Skill development will be the backbone of Atmnirbhar Bharat and GaribKalyanRozgarAbhiyaan: Dr Mahendra Nath Pandey
39. NITI Aayog’s Atal Innovation Mission unveils National Winners of the ATL Tinkering Marathon 2019
40. The National Rail and Transportation Institute announces admissions for Academic year 2020-21
41. Cabinet approves Extension of tenure of the Commission constituted under Article 340 of the constitution to examine the issue of sub-categorization within Other Backward Classes in the Central List
42. ITAT allows exemption of Rs 220 cr to Tata Education & Development Trust
43. Government working with RBI on Industry’s need for loan restructuring: Finance Minister Smt. Nirmala Sitharaman
44. Cabinet Approves National Education Policy 2020, paving way for transformational reforms in school and higher education systems in the country
45. Gold Can Give 200% Return in Next 2 Years
46. Extension of various time limits under Direct Tax & Benami laws
47. Top leaders of industries participate in industry consultation roundtable for the formulation of the new STIP 2020
48. Indian Air Force inducts another batch of Young Leaders at the Combined Graduation Parade held at Air Force Academy
49. INST scientists formulate nanoparticle to reduce severity of rheumatoid arthritis
50. Come, Innovate in India, Shri Dharmendra Pradhan appeals to Indian students from across the globe
We would love to hear your thoughts, concerns or problems with anything so we can improve our website educratsweb.com ! visit https://forms.gle/jDz4fFqXuvSfQmUC9 and submit your valuable feedback.
Save this page as PDF | Recommend to your Friends

http://educratsweb(dot)com http://www.educratsweb.com/content.php?id=2775 http://educratsweb.com educratsweb.com educratsweb