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RBI forms expert panel for Urban Co-operative Banks
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SME Times News Bureau | 15 Feb, 2021
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.
The eight-member panel
will take stock of the regulatory measures taken by the Reserve Bank and
other authorities in respect of urban co-operative banks (UCB) and
assess their impact over the last five years to identify key constraints
and enablers, if any, in fulfilment of their socio-economic objective.
It
will also "review the current Regulatory/Supervisory approach and
recommend suitable measures/changes to strengthen the sector, taking
into account recent amendments to the Banking Regulation Act, 1949,"
said the RBI statement.
Along with suggesting effective measures
for faster rehabilitation and resolution of UCBs and assess potential
for consolidation in the sector, the committee will also consider the
need for differential regulations and examine prospects to allow more
leeway in permissible activities for UCBs with a view to enhance their
resilience.
The other members of the committee include former
NABARD Chairman Harsh Kumar Bhanwala, Mukund M. Chitale, who is a
Chartered Accountant, M.S. Sriram, of IIM Bangalore among others.
The
panel will also draw up a vision document for a vibrant and resilient
urban co-operative banking sector having regards to the principles of
cooperation as well as depositors' interest and systemic issues.
The committee will submit its report within three months from the date of its first meeting, the statement said.
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