RBI constitues 8-member skilled panel for strenthening Urban Co-operative Banks

The Reserve Bank of India (RBI) has constituted an eight-member skilled committee on Primary (Urban) Co-operative Banks (UCBs) to look at points and counsel a street map for strengthening the sector. The committee can be chaired by the previous RBI Deputy Governor N. S. Vishwanathan.

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Role of the Committee

  • Assess the regulatory measures taken by the RBI and different authorities in respect of UCBs and their affect during the last 5 years to establish key constraints and enablers in fulfilment of their socio-economic goal.
  • Review the present regulatory strategy and advocate appropriate measures to strengthen the sector.
  • Suggest efficient measures for sooner rehabilitation and determination of UCBs and assess the potential for consolidation within the sector

Other members

  • Harsh Kumar Bhanwala: Former Chairman of the National Bank for Agriculture and Rural Development (NABARD) ,
  • Mukund Chitale: Chartered Accountant
  • NC Muniyappa and RN Joshi: retired Indian Administrative Service officers
  • MS Sriram: IIM Bengaluru Professor
  • Jyotindra Mehta: President of the National Federation of Urban Cooperative Banks and Credit Societies
  • Neeraj Nigam: Chief General Manager-in-Charge, Department of Regulation, RBI

Important takeaways for all aggressive exams:

  • RBI twenty fifth Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

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