RBI asks UCBs to be mindful of their responsibilities for depositors
4 days, 17 hours ago

RBI asks UCBs to be mindful of their responsibilities for depositors

The Hindu  

Reserve Bank of India Governor Sanjay Malhotra on Wednesday urged Chairmen, MDs and CEOs of Urban Cooperative Banks to be mindful of their responsibilities, particularly in view of the trust reposed on them by the depositors. “UCBs were also advised to ensure that they remain operationally resilient including against IT and cyber-related risks,” the RBI said in a statement. The Governor held a meeting with the Chairmen, Managing Director & Chief Executive Officers of select UCBs across all Tiers operating in different parts of the country. The representatives from industry bodies namely National Urban Cooperative Finance and Development Corporation Ltd and the National Federation of Urban Co-operative Banks & Credit Societies Ltd. also participated in the meeting.

Rbi Ucb  asks  governor  reserve  mindful  trust  cooperative  national  banks  meeting  ucbs  rbi  urban  depositors  responsibilities

History of this topic

RBI panel suggests 4-tier structure for urban co-op banks
3 years, 7 months ago

RBI panel suggests 4-tier structure for urban co-op banks

Deccan Chronicle  

Mumbai: A committee set up by the Reserve Bank of India to look into the functioning of urban cooperative banks has suggested a four-tiered structure to regulate them based on their size of deposits and has prescribed different capital adequacy and regulatory norms for them. The committee has also suggested setting up an umbrella organisation with a minimum capital of …

RBI brings 5-pillared approach to deal with cybersecurity issues in UCBs
4 years, 5 months ago

RBI brings 5-pillared approach to deal with cybersecurity issues in UCBs

Business Standard  

RBI brings 5-pillared approach to deal with cybersecurity issues in UCBs The technology vision document, which was formalised after obtaining inputs from various stakeholders, is aimed at enhancing the cybersecurity posture of UCBs Premium Use of information technology by banks has grown rapidly and is now an important part of the operational strategy of banks. Press Trust of India New …

PMC Bank impact: RBI revises norms for urban cooperative banks; to place them under supervision if net NPAs exceed 6%
5 years, 2 months ago

PMC Bank impact: RBI revises norms for urban cooperative banks; to place them under supervision if net NPAs exceed 6%

Firstpost  

Mumbai: The RBI on Monday revised the Supervisory Action Framework for urban cooperative banks to ensure expeditious resolution of financial stress being faced by some of them. “Keeping in view the experience gained, it has been decided to further rationalise the SAF to make it more effective in bringing about the desired improvement in the UCBs as also expeditious resolution …

RBI asks large UCBs to constitute Board of Management
5 years, 2 months ago

RBI asks large UCBs to constitute Board of Management

India TV News  

The Reserve Bank on Tuesday asked all urban cooperative banks with deposits of over Rs 100 crore to constitute a Board of Management comprising experts to oversee their functioning. As per the guidelines on BoM: "There shall be a Board of Management in every UCB with deposit size of Rs 100 crore and above in addition to the Board of …

To avoid PMC-like scams, RBI proposes to tighten lending norms for urban co-operative banks
5 years, 2 months ago

To avoid PMC-like scams, RBI proposes to tighten lending norms for urban co-operative banks

Live Mint  

Mumbai: The RBI on Monday proposed reduction in loan amount an urban co-operative bank can lend to a single entity and a group of borrowers to 10 per cent and 25 per cent, respectively, with an aim to prevent PMC Bank like scams caused by large exposure to one group. Currently, primary co-operative banks are permitted to have exposures up …

PMC Bank depositors' worries to be taken up with RBI: Minister
5 years, 3 months ago

PMC Bank depositors' worries to be taken up with RBI: Minister

India TV News  

PMC Bank depositors' worries to be taken up with RBI: Minister The Maharashtra government will take up concerns of the troubled Punjab and Maharashtra Cooperative Bank's depositors with the RBI in a couple of days, state minister Jayant Patil said on Thursday. The Maharashtra government will take up concerns of the troubled Punjab and Maharashtra Cooperative Bank's depositors with the …

PMC Bank crisis ’eye opener’, RBI looking into lapses: Anurag Thakur
5 years, 5 months ago

PMC Bank crisis ’eye opener’, RBI looking into lapses: Anurag Thakur

Live Mint  

Terming the Punjab and Maharashtra Cooperative Bank crisis as an "eye opener", Minister of State for Finance Anurag Thakur on Monday said the banking sector regulator RBI is looking into various aspects, including lapses on part of auditors. It also raises question mark on role of various people whether it is regulator, auditors, directors and other officials," he said on …

PNB scam: RBI's role as banking watchdog far from impressive as swindles keep happening under its nose
7 years, 1 month ago

PNB scam: RBI's role as banking watchdog far from impressive as swindles keep happening under its nose

Firstpost  

The RBI is the central bank, and irrespective of the kind of bank it has to ring the warning bell by giving out timely disclosures. Almost a decade ago, the focus was on cooperative banks – when the entire board of the Maharashtra State Cooperative Bank had to be dissolved in May 2011. The specious argument given by the RBI …

Discover Related