Saraswat Bank becomes the first urban cooperative bank in the country which has decided to offer Right Issue to its shareholders. The decision was announced on Monday on
Saraswat Bank: Thakur re-elected unopposed; excited over Tier 4 classification indiancooperative.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiancooperative.com Daily Mail and Mail on Sunday newspapers.
Sahakar Bharati has hailed the decision of the Reserve Bank of India for the constitution of the Expert Committee (EC) for UCBs and has demanded to include co-operators in the Committee.
In the messages sent by Sahakar Bharati, National General Secretary Uday Joshi, he said, “Sahakar Bharati hails the constitution of Expert Committee (EC) for UCBs vide RBI Governor Statement dated 5
th Feb 2021.”
Sahakar Bharati had been constantly pressing for the constitution of the EC, particularly after enactment of Amendments in the BR ACT & fall in the number of UCBs across the country, added Joshi.
However, Sahakar Bharati also expects constitution of a broad-based EC which will consider important points for the overall development of the sector. The EC should have officials & co-operators drafting a vision for the growth of the UCB Sector including issuing of licences for new UCBs.
RBI to set up expert committee for urban co-op banks to strengthen sector
RBI MPC meet: The constitution of the expert committee and its terms would be announced shortly, the apex bank said
BusinessToday.In | February 5, 2021 | Updated 14:03 IST
RBI Monetary Policy meet: Expert committee for co-op banks
RBI Governor Shaktikanta Das, during the Monetary Policy Committee meet announcements on Friday, said that an expert committee will be formed for urban co-operative banks. The expert committee will provide a medium-term roadmap to strengthen the sector. The Primary (Urban) Co-operative Banks are an important segment of the credit structure. The Reserve Bank has undertaken several measures in the recent past to strengthen the Urban Co-operative Banking sector and deepen financial inclusion. The recent amendments to the Banking Regulation Act, 1949 have brought near parity in regulatory and supervisory powers between Primary (Urban) Cooperative Banks and commercial banks, includ