sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Latest Circulars »
 Minutes of the Monetary Policy Committee Meeting June 4-6, 2018
 RBI-Customer Service provided by agency banks
 RBI-Control measures for ATMs – Timeline for compliance
 RBI releases Draft Directions on requirement of Legal Entity Identifier Code for participation in non-derivative markets
 Liberalised Remittance Scheme – Harmonisation of Data and Definitions
  RBI - Auction of Government o India Dated Securities
  Investment by Foreign Portfolio Investors (FPI) in Debt - Review
 CPE Events 18th May - 23th June 2018
 Basel III Framework on Liquidity Standards - Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards
  Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks – Spreading of MTM losses and creation of Investment Fluctuation Reserve (IFR)
 Change in name of “The Mahanagar Co-operative Bank Limited, Mumbai” to “GS Mahanagar Co-operative Bank Limited, Mumbai” in the Second Schedule to the Reserve Bank of India Act, 1934

RBI constitutes High Powered Committee on Urban Co-operative Banks
February, 02nd 2015

The Reserve Bank of India has constituted a High Powered Committee under the Chairmanship of Shri R.Gandhi, Deputy Governor, Reserve Bank of India to re-examine and recommend appropriate set of businesses, size, conversion and licensing terms for the Urban Cooperative Banking Sector. This was pursuant to the recommendation made by the Standing Advisory Committee (SAC) on UCBs in its meeting held on October 20, 2014.

It may be mentioned here that SAC is an advisory body convened by the Reserve Bank of India periodically. It is chaired by DG-in-charge of the Department of Cooperative Bank Regulation (DCBR) and has representatives from the sector, Registrars of Co-operative Societies of select States and IBA as its members.

The composition of the High Powered Committee will be as under: -

Shri R Gandhi, Deputy Governor, Reserve Bank of India - Chairman

Shri M.A.Narmawala, Commissioner for Co-operation & Registrar of Cooperative Societies, Gujarat

Shri M.V.Tanksale, Chief Executive, Indian Banks’ Association

Dr. M. L. Abhyankar, President, National Federation of Urban Co-operative Banks (NAFCUB)

Shri S.K.Banerji, Managing Director, Saraswat Cooperative Bank Ltd

Shri D Krishna, Former Chief Executive, NAFCUB

Smt. Suma Varma, Principal Chief General Manager, DCBR, Reserve Bank of India will be the Member Secretary.

Shri Joseph Raj, Joint Legal Adviser, Legal Department, Reserve Bank of India shall be a permanent invitee.

The terms of reference of the High Powered Committee are:

  1. What lines of business (that commercial banks undertake) can be permitted for UCBs and what should be the benchmark in terms of size of business, capital requirement, regulatory regime etc.;

  2. In view of the limited legal powers and resolution options, what should be the appropriate size upto which a UCB may be able to grow without undue risk to the system, under the current regulatory framework;

  3. When enabling legal framework is in place for conversion of a co-operative bank into a joint stock bank, what should be the criteria for allowing voluntary conversion by a UCB? What should be the benchmarks in terms of asset size, capital, etc., for mandatory conversion of UCB to a Joint Stock bank?

  4. Examine whether the time is opportune to give license to new UCBs as per the recommendations of the Expert Committee on Licensing of New UCBs, (Malegam Committee) and if so the modalities of taking forward the recommendations of Malegam Committee;

  5. Determine the modalities of implementing the suggestion of the Malegam Committee that 50 per cent in value of deposits should be held by voting members to assure that confidence regarding proper management is generated among investors. Alternatively propose a feasible structure that puts majority voting in the hands of contributors of funds;

  6. Any other matter incidental to the above.

The Committee will submit its report within three months from the date of its first meeting. Department of Co-operative Bank Regulation will provide the necessary secretarial assistance to the Committee.

Ajit Prasad
Assistant General Manager

Press Release : 2014-2015/1610

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions