BANKING Regulation (Amendment) Ordinance, 2020 was promulgated on June 26, 2020. The ordinance seeks to amend the Banking Regulation Act, 1949, which regulates the functioning of banks and provides details on various aspects such as licensing, management, and operations of banks. This ordinance comes in continuation of the Banking Regulation (Amendment) Bill, 2020 introduced in the parliament in March 2020 by the finance minister.The act shall not apply to primary agricultural credit society or cooperative societies whose principal business is long-term financing for agricultural developm