RBI Tightens Control Over 87 Urban Cooperative Banks

The Reserve Bank of India (RBI) has been checking on small banks that help people in cities.

Since 2021, it has put 87 of these banks under rules to make sure they are safe.

Only 27 banks still have those rules in place.

Maharashtra has the most banks under rules, with 10.

A few banks broke rules about how much money they should keep to cover losses.

The RBI has taken action by removing some people from the banks and giving them fines.

The government also helped people get their money back from banks that closed, paying out about 18.9 crore rupees.

The RBI is working harder to keep these banks honest and protect people's savings.