RBI wants politicos away from co-operatives

In response to a directive from the RBI the Punjab govt. has decided to begin a process that would prevent politicians and their supporters from controlling central cooperative banks in the state. In a strange coincidence readers could recall that IFFCO Managing Director U S Awasthi had recently told Indian Cooperative that politicos should desist from joining cooperative affairs. Echoing his views RBI passed a similar direction in the wake of large-scale bungling in the affairs of the cooperative banks across states...........

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