RBI launches fresh bid to reform co-operative banks
Former deputy brought in to investigate measures to strengthen the troubled sector
The Reserve Bank of India is weighing up further reforms to the regulation of urban co-operative banks (UCBs), after long-running problems in the sector culminated in the collapse of a mid-sized lender in late 2019.
The RBI said today (February 15) that N S Vishwanathan, a former deputy governor, would chair a committee to take stock of recent regulatory reforms and lay out a plan to strengthen the sector.
In a statement, RBI governor Shaktikanta Das said UCBs were an “important segment of the
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