"ucbs"

Union Cooperation Minister Amit Shah urged urban cooperative banks to change their perception of the RBI, citing its recent support for the sector. He also called for all 1,400 UCBs to join NUCFDC, highlighting its benefits in technology, compliance and cybersecurity

Union Minister Amit Shah on Saturday urged urban cooperative banks to adopt technology, improve transparency and modernise customer services to remain competitive. He asked all UCBs to join NUCFDC within a year, stressing stronger governance and customer prosperity to strengthen the sector

The central bank said that in its statutory inspection of the bank with reference to its financial position as of March 31, 2022.

However, non-deposit taking NBFCs with asset size below Rs 1,000 crore have the option to continue with their extant procedure.