MUMBAI, Feb. 14 -- The Union cabinet on 5 February approved changes to the Banking Regulation Act to give the Reserve Bank of India wider powers to regulate cooperative lenders and prevent frauds such as the one seen at Punjab and Maharashtra Co-operative Bank Ltd. Once the amendment is cleared by Parliament, cooperative banks will be audited according to RBI's norms and the central bank can supersede the board, in consultation with the state government, if any cooperative bank is under stress, information and broadcasting minister Prakash Javadekar said after the cabinet meeting. Appointments of chief executives will also require permission from the banking regulator, as is the case for commercial banks, the minister said. Cooperative bank...