By Satish Marathe
I welcome the Recommendations of the Expert Committee for UCBs. The Report lays down a Roadmap for Growth & Development of the UCB Sector which has been languishing for the last 20 years and more.
All major issues confronting the UCB Sector have been addressed and a path has been laid down for level playing field.
There is now no need for medium & large sized UCBs to privatise. Besides, healthy and small UCBs do not have to fear compulsory merger and amalgamation. Raising of Capital and Long Term Funds will now be immensely facilitated with the proposed guidelines.
It is now time for the UCB Sector to pull up socks and take steps for putting in place – Risk Management Architecture, Good Governance, & Professional Mmgt Structure – and contribute to taking Indian Economy to 5 Trillion Dollar level and making Bharat Atmanirbhar.
I thank Hon FM & Hon RBI Guv for their active and unstinted support to the UCB Sector.
I also thank Sh NS Vishwanathan, Chairman & Members of the Expert Committee for the long hours they devoted to finalize this historic path breaking Report.