RBI Governor, PM signal reforms in trouble-prone urban co-operative banks

What is the news? Reserve Bank of India (RBI) Governor has indicated that the banking regulator will bring in sweeping regulatory changes to reform urban co-operative banks. The Prime Minister, the Union Finance Minister and the Governor were present at an event to mark the payment of nearly ₹1,300 crore to over 1 lakh depositors… Continue reading RBI Governor, PM signal reforms in trouble-prone urban co-operative banks

Politics vs governance: on Urban Cooperative Banks

Synopsis: The Madhya Pradesh High Court’s decision to stay the Reserve Bank of India’s circular may delay the shift towards better governance in Urban Cooperative Banks (UCBs). Introduction The RBI had in June this year said that Members of Parliament, Assemblies, municipal corporations, municipalities, or other local bodies could not hold the corner-room post, or be a… Continue reading Politics vs governance: on Urban Cooperative Banks