RBI introduces unified business authorization norms, replacing FSWM, and mandates prior approval for co-op bank expansions.

• New Eligibility Criteria for Business Authorization (ECBA) replaces old FSWM norms for all co-operative banks nationwide.
• RBI's prior permission is mandatory to open or relocate branches, ATMs, or processing centers under revised guidelines.
• Unauthorized business expansion by co-op banks without RBI approval may attract penal actions under the Banking Regulation Act.