Current Affairs

RBI to amend regulatory Guidelines for UCBs

Current context: The Reserve Bank of India has announced that it is mulling to amend regulatory guidelines for primary Urban Co-operative Banks (UCBs).
RBI to amend regulatory Guidelines for UCBs
  • The guidelines would primarily relate to Exposure norms for single and group/interconnected borrower, promotion of financial inclusion and priority sector lending.
  • A Decision regarding a comprehensive cyber-security framework for the UCBs has been taken to bring the UCBs at par with commercial banks in addressing cyber-security threats through implementation of progressively stronger security measures, like:
    1. The implementation of bank-specific email domain
    2. Periodic security assessment of public-facing websites/applications
    3. Strengthening the cyber-security incident reporting mechanism
    4. Governance framework along with setting up of Security Operations Centre.
  • RBI has also decided to bring UCBs with assets of 500 crore rupees and above under the Central Repository of Information on Large Credits - CRILC reporting framework to strengthen off-site supervision and early recognition of financial distress.

Question: 

Q.1 RBI has recently announced that is has decided to bring Urban Co-operative Banks (UCBs) with assets of _________ and above under the Central Repository of Information on Large Credits - CRILC reporting framework?
a. Rs 100 crore
b. Rs 200 crore
c. Rs 400 crore
d. Rs 500 crore
RBI to amend regulatory Guidelines for UCBs RBI to amend regulatory Guidelines for UCBs Reviewed by Neha Verma on December 06, 2019 Rating: 5

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