The Banking Regulation (Amendment) Bill, 2020 aims to protect depositors by bringing cooperative banks under the supervision of the central bank. Specifically, it will apply the Banking Regulation Act of 1949 to all cooperative societies, except for primary agricultural credit societies and those whose primary business is long-term agricultural financing. Additionally, the bill allows cooperative banks to issue equity and preference shares as well as bonds, and gives the central bank power to supersede boards of multi-state cooperative banks under certain conditions.