RBI announced to Setup Committee for Urban Co-operative Banks

Current Context: The Reserve Bank of India (RBI) announced to set up an expert committee on Urban Co-operative Banks (UCBs).

• The committee will be comprised of stakeholders who will help in framing the roadmap to strengthen the UCBs sector.
• The committee will also be responsible to enable faster resolution and rehabilitation of UCBs.
• An expert committee will also undergo a process of examination of UCBs.
• The committee will be set up under provisions of the Banking Regulation (Amendment) Act, 2020.
• The act became applicable to the Primary or the Urban Co-operative Banks (UCBs) from 26th June 2020.
• Static Part: 
• HQ of RBI: Mumbai
• Governor of RBI: Shaktikanta Das