RBI sets up High Power Committee on Urban Co-operative Banks - আরবিআই - Reserve Bank of India
RBI sets up High Power Committee on Urban Co-operative Banks
The Reserve Bank of India has set up a High Power Committee to review the performance of urban co-operative banks and suggest necessary measures to strengthen them. The Committee will consist of :
1. |
Shri K. Madhava Rao, IAS (Retd.) |
Chairman |
2. |
Shri Y.H. Malegam |
Member |
3. |
Shri Subhash S.Lalla, IAS |
Member |
4. |
Dr Sawai Singh Sisodia |
Member |
5. |
Dr Mukund L. Abhyankar |
Member |
6. |
Shri P.S. Vyas |
Member |
7. |
Shri M.M.S. Rekhrao |
Member |
8. |
Shri O.P. Sharma |
Member Secretary |
The terms of reference of the Committee are :
(i) |
To evolve objective criteria to determine the need and potential for organising urban co-operative banks; review the existing entry point norms and examine the relevance of special dispensation for less/least developed areas etc. |
(ii) |
To review the existing policy pertaining to branch licensing and area of operation of urban co-operative banks. |
(iii) |
To consider measures for determining the future set up of weak/unlicensed banks. |
(iv) |
To examine the feasibility of introducing capital adequacy norms for urban co-operative banks. |
(v) |
To examine the need for conversion of co-operative credit societies into primary co-operative banks. |
(vi) |
To suggest necessary legislative amendments to the Banking Regulation Act and Co-operative Societies Act of various states for strengthening the urban banking movement. |
The Committee will submit its report to the Reserve Bank of India before September 30, 1999.
It may be recalled that in the Monetary and Credit Policy for the year 1999-2000, Governor, Reserve Bank of India had announced the constitution of a High Power Committee to review the performance of the urban co-operative banks.
Alpana Killawala
General Manager
Press Release : 1998-99/1462