Tuesday, 16 February 2021
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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