RBI’s Subbarao addresses issue of struggling co-operatives

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Duvvuri Subbarao, the Reserve Bank of India governor, laid out a roadmap for reviving the country's failing co-operative banking system at a conference in Pune today (November 16).

The owners of co-operative banks lack "professionalism" and should stick to governance-related matters, leaving professional managers to run co-operative banks. Subbarao said usual ‘fit and proper' criteria should also be stringently applied to personnel considered for managerial positions.

Subbarao also addressed

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