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RBI Policies
The Reserve Bank of India appointed a High Power Committee in May 1999 under the Chairmanship of Shri K. Madhava Rao, Ex-Chief Secretary, Government of Andhra Pradesh to review the performance of Urban Cooperative Banks (UCBs) and to suggest necessary measures to strengthen this sector. With reference to the terms given to the Committee, the Committee identified five broad objectives:
1. to preserve the cooperative character of UCBs
2. to protect the depositors' interest
3. to reduce the systemic risks to the financial system
4. to put in place strong regulatory norms at the entry level so as to sustain the operational efficiency of UCBs in a competitive environment and evolve measures to strengthen the existing UCB structure particularly in the context of ever increasing number of weak banks and
5. to align urban banking sector with the other segments of banking sector in the context of application of prudential norms in toto and removing the irritants of dual control regime.
Reserve Bank of India has extended the off-site surveillance system (OSS) to all non-scheduled urban co-operative banks (UCBs) having deposit size of Rs 100 crore and above.... Read detailed guidelines
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