Acts & Laws

Amendment Act, 2011

On UPSC.wiki

Current affairsSC in Sandeep Ghandat vs RBI (2026 INSC 955): RBI's Power to Supersede Multi-State Co-operative Bank Boards Not Capped at Six MonthsOn September 3, 2026, the Supreme Court of India held in Sandeep S. Ghandat vs Reserve Bank of India (2026 INSC 955) that the RBI's statutory power under Section 36AAA(1) of the Banking Regulation Act, 1949 to supersede the Board of Directors of a multi-State co-operative bank is not limited to the six-month cap prescribed under Article 243ZL(1) of the Constitution. The court set a five-year aggregate ceiling and ruled that state government consultation is not required for multi-State co-operative banks.

In previous-year questions

Part IX-B of the Indian Constitution, which deals with co-operative societies including provisions for board supersession under Article 243ZL, was inserted by which Constitutional Amendment?UPSC · Current Affairs