Bringing co-operative banks under RBI could create challenges for state governments

The central bank and state governments may often end up in courts over the powers of the RBI in overruling the managements of the lenders if the veto power vested with the regulator through the amendments to the Act clashes with the interests of local politicians who mostly control co-operative banks, analysts said.

source https://economictimes.indiatimes.com/industry/banking/finance/banking/bringing-co-operative-banks-under-rbi-could-create-challenges-for-state-governments/articleshow/76675463.cms