PMC Bank audit report

Why is it in the news?
  • The forensic audit re­port on the troubled Punjab and Maharashtra Coopera­tive (PMC) Bank is expected to be completed in a fortnight.
  • There is a forensic audit which is under way.
More in the news
  • The Reserve Bank of India(RBI) has given its sugges­tions to the Centre on legisla­tive changes that could help bolster oversight of the cooperative banking sector.
  • In October, Finance Minis­ter had formed a committee to re­commend changes to coop­erative banking laws.
  • The Governor stressed that the regulator has been taking steps to im­prove supervision even be­fore the PMC Bank crisis emerged.
Source
The Hindu.
Posted by Jawwad Kazi on 24th Dec 2019
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