The Reserve Bank of India (RBI) has constituted an eight-member expert committee on Primary (Urban) Co-operative Banks (UCBs) to examine issues and suggest a road map for strengthening the sector. The committee will be chaired by the former RBI Deputy Governor N. S. Vishwanathan.
Role of the Committee
- Assess the regulatory measures taken by the RBI and other authorities in respect of UCBs and their impact over the last five years to identify key constraints and enablers in fulfilment of their socio-economic objective.
- Review the current regulatory approach and recommend suitable measures to strengthen the sector.
- Suggest effective measures for faster rehabilitation and resolution of UCBs and assess the potential for consolidation in the sector
- 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 competitive exams:
- RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.