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RBI sets up Expert Panel to Strengthen UCBs

Published on February 16, 2021
Current Context: The Reserve Bank of India (RBI) has constituted a committee to strengthen the Urban Co-operative Banks (UCBs).
RBI sets up Expert Panel to Strengthen UCBs
  • The expert committee will examine the issues and will generate a roadmap to strengthen the UCBs sector.
  • In this regards, the RBI has decided to form an eight-member committee which will be headed by former RBI Deputy Governor NS Vishwanathan.
  • The expert panel will take stock of regulatory measures which were taken by the RBI and other authorities in concern to UCBs.
  • The panel will analyse the impact of the measures over the last five years which will help them to mark constraints and take actions accordingly to fulfil their socio-economic objectives.
  • The members of the panel will analyse the current regulatory and supervisory approach and upon analyzing they will suggest measures to be taken to strengthen UCBs by following recent amendments to the Banking Regulation Act, 1949.
  • The measures suggested by the panel will lead to faster rehabilitation or resolution of UCBs.
  • The expert panel will draft a vision document with an aim to develop resilient urban co-operative banking sector having regards to the Principles of Cooperation as well as depositors’ interest and systemic issues.
  • Static Part: 
    • HQ of RBI: Mumbai
    • 25th Governor of RBI: Shaktikanta Das

Question: 

Q.1 Who among the following to head the committee setup by RBI to strengthen Urban Co-operative Banks (UCBs) sector?
a. Harsh Kumar Bhanwala
b. NS Vishwanathan
c. Neeraj Nigam
d. B.P. Kanungo

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