- Highlights:
- Strengthening the Sector: The purpose of these mergers is to strengthen the urban cooperative banking sector by consolidating resources, improving operational efficiency, and ensuring better customer service.
- Enhanced Stability: By combining their assets, liabilities, and human resources, these banks aim to create stronger and more resilient institutions.
- Improved Customer Service: The mergers are expected to lead to better service for members and communities by leveraging the strengths and capabilities of the merged entities.
Question:
1. What was the primary objective behind the RBI’s approval of the voluntary merger of urban cooperative banks on February 8, 2025?
- A) To increase competition among cooperative banks
- B) To strengthen the urban cooperative banking sector
- C) To privatize cooperative banks
- D) To decrease the number of cooperative banks
