Once again, I want to thank Humber College and the Canadian Foundation for Economic Education for this opportunity. It’s a bit daunting to try to deliver a lecture this late in the evening. But the subject that I want to discuss tonight is one that should be of interest to all of us - the importance of investing in skills to improve productivity growth.
Although the Banking Regulation Act, 1949 (As Applicable to the Cooperative Societies) does not empower Reserve Bank to formulate a scheme with regard to merger and amalgamation of co-operative banks, the State Governments have incorporated in their respective Co-operative Societies Acts a provision for obtaining prior sanction in writing, of the RBI for an order, inter alia, for sanctioning a scheme of amalgamation or reconstruction.