Question

Which reform is considered a major recent development in the cooperative banking sector?

• A. Merger of all PACS
• B. Creation of Ministry of Cooperation
• C. Abolition of SCBs
• D. More than one of the above

Answer 1

Answer:

B. Creation of Ministry of Cooperation

The Ministry of Cooperation was established in July 2021 by the Government of India to strengthen the cooperative sector. Its formation provides a dedicated administrative, legal, and policy framework for cooperatives, separate from other ministries like Agriculture