There have been reports of bank fraud cases in the last few months ……..
There have been reports of bank fraud cases in the last few months. Public confidence has been severely damaged.
Deposits in public and private banks are still expected to be saved but co-operative bank account holders are always afraid of losing their money.
Meanwhile, the central government has taken a decision which, if implemented, will not easily sink the money of the account holders of the cooperative banks.The Cabinet, headed by Prime Minister Narendra Modi, on Wednesday directed the Reserve Bank of India (RBI) to oversee all cooperative banks.
The move is aimed at promoting PMCs in the country. To prevent losses like banks and to reassure the customers of cooperative banks. The President will soon issue an ordinance in this regard