(e) Regional Rural Banks and State and District Central Co-operative Banks, which are regulated by RBI, supervised by NABARD and additionally by Central Government and State Governments; and (e) Development Financial Institutions, some of which are under statute and some under Companies Act, which had been under Government control till recently.
RBI has of late brought them to some extent within its regulatory and supervisory ambit. Both the Madhava Rao Committee and the Capoor Committee had addressed issues of regulation relating to co-operative banks; but, several legislative actions are still to be initiated.