The urban cooperative banking sector is divided on the composition of an Expert Committee, announced by the RBI on Monday for the growth of urban co-op banks. While the RSS affiliated body Sahakar Bharati has welcomed the move, Maharashtra Federation Chief Vidyadhar Anaskar registered his protest raising several points.
Welcoming the committee, Sahakar Bharati National Organizing Secretary Uday Joshi said, “Sahakar Bharati Welcomes the constitution of expert committee for UCBs. The report should pave the way for the orderly growth of the UCB sector”.
Sahakar Bharati also dismissed the charge that the Committee has been partial in the sense that only one representation (Jyotindra Mehta) from the UCB sector has been included.
The working group will study all aspects of digital lending activities in the regulated financial sector as well as by unregulated players so that an appropriate regulatory approach can be put in place.
Updated Jan 13, 2021 | 18:31 IST
The working group will evaluate digital lending activities and assess the penetration and standards of outsourced digital lending activities in RBI regulated entities RBI forms panel on digital lending including lending through online platforms, mobile apps
New Delhi: The Reserve Bank of India (RBI) on Wednesday (January 13) constituted a panel to study digital lending, including lending through online platforms and mobile apps.
In its statement, the RBI said: The Working Group (WG) is being set up to study all aspects of digital lending activities in the regulated financial sector as well as by unregulated players so that an appropriate regulatory approach can be put in place.