RBI Forms Committee To Regulate Urban Cooperative Banks

The Reserve Bank of India on February 16 stated that it has constituted an eight-member panel to regulate primary urban cooperative banks (UCBs). Headed by former RBI deputy governor NS Vishwanathan, the expert committee is mandated to identify the key areas of the sector and recommend ways to strengthen UCBs. It will also suggest effective measures for faster resolution and rehabilitation of UCBs while adhering to the recently amended Banking Regulation Act, 1949.