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RBI to re-start issuing fresh licences for setting up Urban Co-op Banks
The Reserve Bank of India (RBI) plans to re-start issuing fresh licences for setting up Urban Co-operative Banks (UCBs) after a gap of two decades. However, the eligibility norms are tight. Only existing multi-state Credit Co-operative Societies (CCS) with at least 10 years of operations, having a deposit size of at least ₹10,000 crore and minimum net worth of at least ₹300 crore, can apply. With banking being a highly leveraged business, the RBI said it will adopt a cautious approach in licensing.
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theprint.in
RBI cracked whip on 87 urban co-op banks in 2021 for violations. Only 27 remain under regulatory curbs
Govt told Parliament that Maharashtra accounted for nearly half of the banks placed under RBI’s regulatory directions; DICGC settled Rs 18,931 crore in depositor claims.
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economictimes.indiatimes.com
RBI proposes resuming UCB licensing, overhaul of rural bank rules at MPC
The Reserve Bank of India will resume licensing for urban cooperative banks. A comprehensive review of credit monitoring for rural cooperative banks is also planned. The central…
