The RBI was thus far overseeing the banks' capital adequacy, risk control and lending norms, while management responsibilities were entrusted to the Registrar of Cooperative Societies of the state government.
In a letter written to Prime Minister Narendra Modi on Monday, Banerjee said the supervisory role and management responsibilities that have been transferred to the central bank should be restored with the Registrar of Cooperative Societies of West Bengal.
The chief minister said the Centre, through an ordinance on June 26, 2020, transferred the powers of supervision of urban and multi-state cooperative banks to the RBI in a "unilateral" manner.
She said that cooperative societies is a state subject and such a move will infringe upon the powers of the government concerned. DC RBT RBT