New licensing regime for urban co-operative banks in the pipeline

Report of committee headed by ex-RBI deputy governor may be submitted in a fortnight

Topics
Urban cooperative banks | RBI | Indian banking system

Raghu Mohan  |  New Delhi 

A brand new licensing regime for urban co-operative banks (UCBs) is on the cards for financially sound and well-managed co-operative credit societies. This comes 17 years after the Reserve Bank of India (RBI) stopped issuing them, with the number of UCBs now at 1,539, down from 1,926 in 2003-04.

A rethink on constituting a board of management (BoM) for UCBs with deposits of over Rs 100 crore is also in the works, along with the framing of modalities for a national umbrella organisation. These moves will constitute a part of a comprehensive review of regulations and plot the flight ...

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First Published: Mon, August 09 2021. 06:02 IST
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