Amit Shah, Union Minister of Cooperation, stated that several representations have been received from various quarters, including NAFSCOB (National Federation of State Co-operative Banks) and NAFCUB (National Federation of Urban Cooperative Banks and Credit Societies), which have highlighted certain difficulties that cooperative bodies are facing in relation to existing RBI regulations. Shah shared this information in the Parliament in response to a question from an MP about the government’s response in this regard.
The government is regularly in touch with the authorities concerned to resolve such issues within the overall ambit of legislative framework, Shah said.
