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: