RBI issues new circular for co-operative banks: Doorstep banking, ATMs, and more — check key changes
The RBI (Reserve Bank of India) has recently issued a circular that has shifted from the earlier ‘Financially Sound and Well Managed’ (FSWM) framework to a more streamlined ‘Eligibility Criteria for Business Authorisation’ (ECBA) system. This marks a decisive shift toward empowering co-operative banks with greater autonomy provided they meet certain financial and governance benchmarks. Key Highlights…