RBI Introduces New Measures for Cooperative Banks
The Reserve Bank of India, collaborating with the Government of India, is implementing new initiatives to enhance the financial robustness, governance, and digital integration of cooperative banks. Key measures include reclassification of loans to the National Cooperative Development Corporation as priority sector lending, increased housing loan limits, and reduced licensing fees. Additionally, the Shared Services Entity, Sahakar Sarthi, has been launched to aid Rural Cooperative Banks with technological solutions.
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