The Reserve Bank of India (RBI) has constituted an Expert Committee on Urban Co-operative Banks (UCBs) in accordance with the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on 5th February, 2021.
Accordingly, expert committee will examine the issues and provide a road map for strengthening the sector, leveraging on the recent amendments to Banking Regulation Act, 1949 (As Applicable to Cooperative Societies).
Further, the Committee will submit its report within three months from the date of its first meeting. Department of Regulation (DoR) will provide the necessary secretarial assistance to the Committee.
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