Cooperative Banks under SARFAESI Act
On 5th May, 2020, in a significant verdict, the Supreme Court held that all co-operative banks in the country could make use of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) to make recovery against defaulting persons.
- Need: According to an RBI report, there were 1,551 urban cooperative banks as on 31 March 2018, and 96,612 rural cooperative banks as on 31 March 2017, with the latter accounting for 65.8% of the total asset size of all cooperative banks.
- The recent crisis surrounding Punjab and Maharashtra Co-operative Bank Ltd and other such lenders exposed the vulnerability ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
Indian Economy
- 1 Banning of Unregulated Deposit Schemes Act, 2019
- 2 Labour Code on Industrial Relations 2019
- 3 National Statistical Commission (NSC) Bill, 2019
- 4 Direct Tax Vivaad se Vishwas Bill, 2020
- 5 RBI'S 'Vision 2021' Document on Payment Systems
- 6 UK Sinha Report on Micro, Small and Medium Enterprises
- 7 Economic Capital Framework
- 8 Travel and Tourism Competitive Report
- 9 Global Microscope on Financial Inclusion Report 2019
- 10 World Employment and Social Outlook: Trends 2020 Report
