{"id":736,"date":"2019-10-05T05:51:07","date_gmt":"2019-10-05T05:51:07","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2019\/10\/05\/wont-let-cooperative-bank-to-collapse-rbi-governor-shaktikanta-das\/"},"modified":"2019-10-05T05:51:07","modified_gmt":"2019-10-05T05:51:07","slug":"wont-let-cooperative-bank-to-collapse-rbi-governor-shaktikanta-das","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2019\/10\/05\/wont-let-cooperative-bank-to-collapse-rbi-governor-shaktikanta-das\/","title":{"rendered":"Won&#8217;t let cooperative bank to collapse: RBI Governor Shaktikanta Das"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-1727068 size-full\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/10\/cats-239.jpg\" alt=\"Shaktikanta Das,\u00a0Reserve Bank of India governor,\u00a0PMC Bank collapse,\u00a0cooperative bank,\u00a0NCLT,\u00a0HDIL,\u00a0Monetary Policy Committee, indian banking sector\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/cats-239.jpg 660w, https:\/\/images.financialexpress.com\/2019\/10\/cats-239-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/10\/cats-239-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/10\/cats-239-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"wp-image-1727068 size-full\" src=\"https:\/\/images.financialexpress.com\/2019\/10\/cats-239.jpg\" alt=\"Shaktikanta Das,\u00a0Reserve Bank of India governor,\u00a0PMC Bank collapse,\u00a0cooperative bank,\u00a0NCLT,\u00a0HDIL,\u00a0Monetary Policy Committee, indian banking sector\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/cats-239.jpg 660w, https:\/\/images.financialexpress.com\/2019\/10\/cats-239-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/10\/cats-239-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/10\/cats-239-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">Das added that every incident \u2018is an experience\u2019 based on which the RBI will take a fresh look at the regulatory framework in existence and take up any required changes with the government.<\/span><\/figure>\n<\/div>\n<p>The Reserve Bank of India governor, Shaktikanta Das, on Friday said no co-operative bank would be allowed to collapse, even as he appealed to members of public and depositors not to panic or believe speculation in the context of the recent PMC Bank collapse.\u201cThe Indian banking sector remains sound and stable. And there is no reason for any unnecessary panic,\u201d Das said after the Monetary Policy Committee meeting. \u201c<a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/tag\/rbi\/\" rel=\"noopener noreferrer\">RBI<\/a>, obviously, cannot allow a co-operative bank to collapse. The discussion with the government with regard to regulatory provisions of co-operative banks is an ongoing process.\u201d<\/p>\n<p><img decoding=\"async\" class=\"lazy lazy-hidden alignnone wp-image-1727070 size-full\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/10\/cats-241.jpg\" alt=\"\" width=\"377\" height=\"482\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/cats-241.jpg 377w, https:\/\/images.financialexpress.com\/2019\/10\/cats-241-156x200.jpg 156w, https:\/\/images.financialexpress.com\/2019\/10\/cats-241-323x413.jpg 323w, https:\/\/images.financialexpress.com\/2019\/10\/cats-241-209x267.jpg 209w\" sizes=\"(max-width: 377px) 100vw, 377px\"\/><\/p>\n<p><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1727070 size-full\" src=\"https:\/\/images.financialexpress.com\/2019\/10\/cats-241.jpg\" alt=\"\" width=\"377\" height=\"482\" srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/cats-241.jpg 377w, https:\/\/images.financialexpress.com\/2019\/10\/cats-241-156x200.jpg 156w, https:\/\/images.financialexpress.com\/2019\/10\/cats-241-323x413.jpg 323w, https:\/\/images.financialexpress.com\/2019\/10\/cats-241-209x267.jpg 209w\" sizes=\"(max-width: 377px) 100vw, 377px\"\/><\/noscript><\/p>\n<p>Das added that every incident \u2018is an experience\u2019 based on which the RBI will take a fresh look at the regulatory framework in existence and take up any required changes with the government. However, he also stated that \u201cone incident should not be used to generalise about the health of the co-operative banking sector.\u201d<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden alignnone wp-image-1727071 size-full\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/10\/cats-242.jpg\" alt=\"\" width=\"461\" height=\"548\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/cats-242.jpg 461w, https:\/\/images.financialexpress.com\/2019\/10\/cats-242-168x200.jpg 168w, https:\/\/images.financialexpress.com\/2019\/10\/cats-242-347x413.jpg 347w, https:\/\/images.financialexpress.com\/2019\/10\/cats-242-225x267.jpg 225w\" sizes=\"(max-width: 461px) 100vw, 461px\"\/><\/p>\n<p><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1727071 size-full\" src=\"https:\/\/images.financialexpress.com\/2019\/10\/cats-242.jpg\" alt=\"\" width=\"461\" height=\"548\" srcset=\"https:\/\/images.financialexpress.com\/2019\/10\/cats-242.jpg 461w, https:\/\/images.financialexpress.com\/2019\/10\/cats-242-168x200.jpg 168w, https:\/\/images.financialexpress.com\/2019\/10\/cats-242-347x413.jpg 347w, https:\/\/images.financialexpress.com\/2019\/10\/cats-242-225x267.jpg 225w\" sizes=\"(max-width: 461px) 100vw, 461px\"\/><\/noscript><\/p>\n<p>\u00a0<\/p>\n<p>On September 23, the central bank put regulatory restrictions on Punjab &amp; Maharashtra Cooperative (PMC) Bank after it found financial irregularities and under-reporting of loans. Soon after, it also superseded the bank\u2019s board to appoint an administrator.<\/p>\n<p>The crisis at PMC Bank is understood to have been precipitated as it was funding a clutch of companies, mainly in the troubled real estate sector. Housing Development &amp; Infrastructure (HDIL) was one of these companies. Earlier<br \/>this year, HDIL was dragged to the insolvency tribunal by Bank of India to recover its loans. Later, HDIL arrived<br \/>at a settlement with the bank to stay out of NCLT.<\/p>\n<p>The restrictions included barring the bank from lending and accepting fresh deposits for the next six months apart from capping withdrawals at Rs 1,000 per account, which was later revised upwards to Rs 10,000 and then to Rs 25,000 on Thursday.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n<div class=\"jobbi-after-content-jh-placement jobbi-entity-placement\" id=\"jobbi-2145980898\"><div id=\"jobbi-604426465\"><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5862940809620110\" crossorigin=\"anonymous\"><\/script><ins class=\"adsbygoogle\" style=\"display:block;\" data-ad-client=\"ca-pub-5862940809620110\" \ndata-ad-slot=\"\" \ndata-ad-format=\"auto\"><\/ins>\n<script> \n(adsbygoogle = window.adsbygoogle || []).push({}); \n<\/script>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>[ad_1] Das added that every incident \u2018is an experience\u2019 based on which the RBI will take a fresh look at the regulatory framework in existence and take up any required changes with the government. The Reserve Bank of India governor, Shaktikanta Das, on Friday said no co-operative bank would be allowed to collapse, even as [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-finance"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=736"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/737"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}