New Delhi, Nov. 8 -- RBI Governor Shaktikanta Das on Thursday said there is a forensic audit underway in PMC Bank and that it is closely monitoring the situation and has already given inputs for the proposed amendments in the Cooperative Societies Act to the Finance Ministry to strengthen regulatory control over such banks.
"We are providing inputs to the government for legislative changes in the Act (Cooperative Societies Act). The government will decide on the final amendment," Das said after a meeting of the Financial Stability and Development Council (FSDC) here.
In the FSDC meeting chaired by the Finance Minister, PMC Bank issues were discussed.
The FSDC is chaired by the Finance Minister and is a body of financial regulators such a...