Why is the RBI going after Cooperative Banks?

A lot is happening in the cooperative banking space. Last week, the Reserve Bank of India took over the board of Abhyudaya Co-op Bank because it suspected corporate governance issues. And over the weekend, Karnataka announced that the CBI would conduct an inquiry into a multi-crore scam run by the Directors at 3 cooperative banks in the state. So in today’s episode for 6th December 2023, we decided to look at a major problem plaguing cooperative banks. Talk to Ditto - https://bit.ly/45uvyDL