The Indian cooperative banking sector has been around since 1914. But a slew of banks have gone under RBI restrictions, including most recently the Punjab and Maharashtra Co-Op Bank, which has been one of the top banks in the recent years. Over the past week, there have been reports of depositors expressing concern about the future of their savings parked with the bank.
Usha Thorat, former RBI Deputy Governor; and Mahendra Dev, Director, Indira Gandhi Institute for Development Research, share their insights on the challenges faced by the sector and how it can go about restoring depositor confidence.
