“The economic shock of the pandemic has been weathered well by the commercial banking system so far, even if some lagged impact is still in the pipeline”, says the Economic Survey 2021-22.
India’s cooperative banks have become synonymous with financial irregularities. Urban cooperative banks reported 323 cases of frauds in the financial year 2020-21, down from 568 in 2019-20 and 1
NEW DELHI, Dec 12: Prime Minister Narendra Modi today said deposit insurance reforms undertaken by the Government will instil confidence in account holders on the banking system. Parliament in August passed the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill, 2021, ensuring that account holders get up to Rs 5 lakh within 90 days of the RBI imposing a moratorium on the banks. This was done keeping the ‘Depositors First’ spirit in mind, Modi said while announcing that over 1 […]