The Reserve Bank of India (RBI) is organising the 40th meeting of the Standing Advisory Committee on Urban Co-operative Banks (UCBs) in Mumbai today to deliberate on key issues affecting the sector.
The meeting is expected to take up a wide range of regulatory, governance and operational challenges currently faced by urban co-operative banks across the country.
The meeting will be presided over by Shirish Chandra Murmu, Deputy Governor, Reserve Bank of India. Several senior officials of the RBI will also participate in the deliberations.
Representatives of leading UCB federations and other stakeholders will attend the meeting. Among the prominent participants will be NAFCUB Vice-Chairman Milind Kale, Maharashtra UCBs Federation Chairman Ajay Barmecha, and Andhra Pradesh UCBs Federation’s Chalasani Raghvendra Rao. Besides them, several other senior functionaries from the urban co-operative banking sector will also be present.
It is gathered that the new policy and regulatory issues slated for discussion include licensing of urban co-operative banks and conversion of credit societies into UCBs, provision of headroom capital for branch authorisation, and achievement of the minimum regulatory capital requirement of 12 per cent CRAR.
Other key issues likely to be discussed include norms for loans against property, eligibility for net and mobile banking, bank guarantee permissions, limits on advances to nominal members, housing loan tenure, capital augmentation, small value loans, TAFCUB-related deliberations, full DICGC deposit coverage, mandatory leave policy, statutory auditors, and financial support to UCBs in the North Eastern region.