RBI constitues eight-member expert panel for strenthening Urban Co-operative Banks
- 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.
- Chairperson: 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 fulfillment 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 potential for consolidation in the sector
Other member
- 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
Points to remember:
- How many members are there in the committee formed by RBI for UCBs? 8
- Who is the Chairperson of the expert committee on UCBs? N. S. Vishwanathan.