Correct Answer : RBI
The Banking Regulation (Amendment) Act, 2020 has been notified for the District Central Co-operative Banks (DCCBs) with State Cooperative Banks (StCBs). The Reserve Bank is required to sanction the amalgamation these banks.
Recently, the RBI said that it will consider amalgamation of StCBs and DCCBs, subject to many conditions, including that a proposal should be made by the state government concerned, NABARD’s recommendation, additional capital infusion strategy, assurance regarding financial support etc.