RBI sets up High Power Committee on Urban Co-operative Banks

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ప్రచురించబడిన తేదీ మే 27, 1999

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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.) Ex. Chief Secretary Government of Andhra Pradesh Hyderabad	Chairman

2.	Shri Y.H. Malegam Director, Central Board, RBI Chartered Accountant S.B. Billimoria & Co. Mumbai	Member

3.	Shri Subhash S.Lalla, IAS Commissioner for Co-operation and Registrar of Co-operative Societies Government of Maharashtra Pune	Member

4.	Dr Sawai Singh Sisodia President National Federation Urban Co-operative Banks & Credit Societies New Delhi	Member

5.	Dr Mukund L. Abhyankar Director The Cosmos Co-operative Bank Ltd. Pune	Member

6.	Shri P.S. Vyas Managing Director Gujarat State Co-operative Bank Ltd Ahmedabad	Member

7.	Shri M.M.S. Rekhrao Chief General Manager Urban Banks Department Reserve Bank of India Central Office Mumbai	Member

8.	Shri O.P. Sharma Chief General Manager Urban Banks Department Reserve Bank of India Central Office Mumbai	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