RBI forms expert committee for urban co-operative banks to strengthen sector
The committee will also review the current regulatory approach and recommend suitable measures to strengthen the sector.
BusinessToday.In | February 15, 2021 | Updated 23:00 IST
The committee, under the chairmanship of former RBI Governor N. S. Vishwanathan, will take stock of the regulatory measures taken by the RBI and other authorities in respect of UCBs.
The Reserve Bank of India (RBI) on Monday constituted an eight-member expert committee on Primary (Urban) Co-operative Banks (UCBs) to examine issues and provide a road map for strengthening the sector.
The committee, under the chairmanship of former RBI Deputy Governor N. S. Vishwanathan, will take stock of the regulatory measures taken by the RBI and other authorities in respect of UCBs and assess their impact over the last five years to identify key constraints and enablers in fulfillment of their socio-economic objective.
Updated Feb 15, 2021 | 19:35 IST
RBI had first announced that it will be setting up the expert committee as part of the monetary policy statement on February 5, to provide a medium-term road map to strengthen the sector. Representational Image | Photo Credit: IANS
Key Highlights
Former RBI Deputy Governor NS Vishwanathan has been appointed as the Chairman of the committee
The committee has been directed to submit its report within three months from the date of its first meeting
The Reserve Bank of India (RBI) said on Monday that it is has constituted an expert committee on Urban Co-operative Banks (UCBs) in a bid to strengthen and examine the issues within the sector. Former RBI Deputy Governor NS Vishwanathan will be the chairman of the eight-member committee, said RBI in a press
RBI sets up eight-member panel to strengthen UCB sector
February 15, 2021
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The Reserve Bank of India (RBI) has set up an eight-member expert committee to examine the issues and to provide a road map for strengthening the urban co-operative banking (UCB) sector, including suggesting effective measures for faster rehabilitation/ resolution of these banks and assess potential for consolidation in the sector.
The committee, headed by NS Vishwanathan, former Deputy Governor, RBI, will leverage on the recent amendments to the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies) to review the current regulatory/supervisory approach and recommend suitable measures/changes to strengthen the sector.
The Reserve Bank of India (RBI) has constituted an expert committee under the chairmanship of it s former Deputy Governor N.S. Vishwanathan on Primary (Urban) Co-operative Banks.
Read more about Reserve Bank of India forms expert panel for urban co-operative banks on Business Standard. The RBI has constituted an expert committee under the chairmanship of its former Deputy Governor N S Vishwanathan