Tamil Nadu Chief Minister K Palaniswami announced the waiver on Rs.12,10cr crop loans that farmers borrowed from cooperative banks. According to the Chief Minister, this move is to benefit 16.

Tamil Nadu Chief Minister K Palaniswami announces waiver on Rs.12,110cr farm loans from cooperative banks  

As an offshoot to the unravelling of Punjab and Maharashtra Cooperative Bank debacle in 2019, the President, in exercise of the powers conferred by Clause (1) of Article 123 of the Constitution of India, promulgated the Banking Regulation (Amendment) Ordinance, 2020 (hereinafter referred to as the “Ordinance”) on 26.

Cooperative banks now subject to regulation by Reserve Bank of India

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