The Hindu·5 min read·medium
RBI gives Urban Cooperative Banks new lease of life | Explained
S
Santosh V. Perumal
✦AI Summary
The Reserve Bank of India has decided to resume issuing licenses to Urban Cooperative Banks after a two-decade hiatus. This move aims to revitalize the sector, which serves as a bridge between community finance and formal banking.
When urban cooperative banks (UCBs) — built on community trust — enter the public discourse, unfortunately, the first image to surface is that of Madhavpura Mercantile Cooperative Bank (MMCB) and Punjab and Maharashtra Cooperative (PMC) Bank.
economybusiness
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