Constitutional Amendment Act, 1992
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Study materialPanchayati Raj System — Historical DevelopmentThe Panchayati Raj system in India has evolved over two millennia, culminating in the 73rd Constitutional Amendment of 1992, which established a three-tier local self-government structure with mandatory democratic elections and reservations for marginalized groups. Current affairsSC in Sandeep Ghandat vs RBI (2026 INSC 955): RBI's Power to Supersede Multi-State Co-operative Bank Boards Not Capped at Six MonthsOn September 3, 2026, the Supreme Court of India held in Sandeep S. Ghandat vs Reserve Bank of India (2026 INSC 955) that the RBI's statutory power under Section 36AAA(1) of the Banking Regulation Act, 1949 to supersede the Board of Directors of a multi-State co-operative bank is not limited to the six-month cap prescribed under Article 243ZL(1) of the Constitution. The court set a five-year aggregate ceiling and ruled that state government consultation is not required for multi-State co-operative banks. Current affairsMission Samriddh Gaon: Shivraj Singh Chouhan's Convergence Model for Poverty-Free, Employment-Rich VillagesUnion Rural Development and Agriculture Minister Shivraj Singh Chouhan launched Mission Samriddh Gaon to develop "poverty-free, employment-rich villages" through the convergence of multiple government schemes, with pilot projects in two Madhya Pradesh blocks — Budni (Sehore district) and Khategaon (Dewas district) — to be scaled nationally upon success.