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RBI to regulate 1540 cooperative banks for better management: Govt

New Delhi, June 24 (ANI): Central government on June 24 announced that government banks, including 1482 urban cooperative banks and 58 multi-state cooperative banks will be brought under supervisory powers of Reserve Bank of India (RBI). “Government banks, including 1482 urban cooperative banks and 58 multi-state cooperative banks, are now being brought under supervisory powers of RBI,” said Information and Broadcasting Minister Prakash Javadekar while addressing the press conference in New Delhi. “RBI's powers as they apply to scheduled banks will apply for cooperative banks as well,” the Union Minister added.