One significant fall-out of the de-monetisation move by the Centre is the fate of district co-operative banks. In certain States in south and west India, these banks play a major role in rural areas, particularly amongst the agricultural community. Since the de-monetisation of Rs. 500 and Rs. 1000 notes on November 8, the position as regards co-operative banks has been far from clear. On November 8, the same day that the demonetisation notification [pdf] was published by the Ministry of Finance under S.26 of the Reserve Bank of India Act, 1934, the RBI issued a circular [pdf] laying down the manner in which […]
The post All you need to know about #Demonetisation and District Co-op Banks in the Supreme Court
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