The Union Minister of State for Finance Pankaj Chaudhary, has informed the Lok Sabha that no Urban Cooperative Bank (UCB) in West Bengal has applied to the Reserve Bank of India (RBI) for transition into a Small Finance Bank (SFB).
In a written reply, the Minister said that, as informed by the RBI, there are 42 Urban Cooperative Banks operating in West Bengal, and no application has been received from any of these UCBs for conversion into SFBs.
The Minister further stated that during the last five years, the National Cooperative Development Corporation (NCDC) has sanctioned Rs 46.66 crore for the development of cooperatives in West Bengal.
