Page 4 - Urban Cooperative Banks

Co-op banks may come under banking act, forced conversion not ruled out

In the revised scheme, the inspection of the UCBs solely under the Banking Regulation Act will be done by the central bank

RBI monetary policy review: Client exposure norms for UCBs to be tightened

The RBI said it would amend the guidelines for UCBs to reduce concentration risk in exposures

Urban cooperative banks' business size may be capped at Rs 20,000 cr

R Gandhi and Y H Malegam report to be the bedrock of new guidelines

Lack of ICA to hit PMC Bank's HDIL exposure

It is not clear as to where PMC Bank stands in the pecking order for recovery of its dues from HDIL, worth Rs 6,500 crore

Did not know about loans to HDIL, says PMC Bank director in bail plea

Surjit Singh Narang, one of the directors of scam-hit Punjab & Maharashtra Cooperative Bank, has claimed in his pre-arrest bail plea in a court here that he was not aware of the loans given by the bank to the HDIL group. The Economic Offences Wing (EOW) of Mumbai Police has arrested five persons in the Rs 4,355 crore PMC Bank scam, including promoters of realty group HDIL and top bank officials. Narang (71) has filed an anticipatory bail application before additional sessions judge S T Soor here. The FIR registered by the EOW did not name him, but it was "wide enough" to include him, his plea said. He was one of the promoters and share-holders of the bank, but not involved in its "day-to-day operations", it said. He was not aware of the loans given to HDIL, and there was nothing to show that he was connected with alleged "falsification of records and concealment of information" (to hide these loans), Narang said. As per the EOW, the bank management concealed from the banking ...

Lessons from PMC: Why govt is responsible for co-operative bank crises

At no time has it made customers aware of any additional risk in such banks, over scheduled commercial banks

How safe is your money with Indian banks?

Either the DICGC cover should be raised or we need an independent resolution body to protect depositors. The FRDI Bill can ensure that

Tax benefit to cooperatives should go

Return to societies from cooperative banks is almost double that from commercial banks

PMC Bank scam: Ex-director sent in police custody till October 22

The court also remanded the bank's former managing director Joy Thomas in 14-day judicial custody, after his police remand ended on Thursday

Letter to BS: Dual regulation of urban cooperative banks must end

It is time the interests of depositors, who are often pensioners, salaried persons and small businessmen, are rigorously protected

How to fix the PMC Bank crisis

What we need is a simple principle to be applied here: All deposit-taking organisations should come under the sole supervision of the RBI

Letter to BS: Keeping PMC Bank crisis in mind, don't let Kerala Bank fail

In all probability, it will be the biggest cooperative bank in India and soon get categorised under the "too big to fail" category

PMC crisis calls for board of management in urban cooperative banks

The idea - seconded by the R Gandhi committee on UCBs in 2015 - behind this was to cut through the legal bureaucracy and tap dance around dual regulation

Best of BS Opinion: PMC Bank crisis, stressed financial firms, and more

The lead edit explains why the 25 basis point cut in the policy rate is an appropriate call

Financial sector stability & our cook Lilu-tai

PMC Bank cannot create systemic instability but the triumvirate of banks/UCBs, shadow banks and realty firms can play havoc with the Indian financial system

Caught in the headlights: Here's a look at three big rip-offs in UCBs

Weak governance, poor internal controls, political interference and dual regulation by state governments and the Reserve Bank of India - just about everything which can go wrong at UCBs

Improve governance practices to regain public confidence: RBI tells UCBs

RBI has taken several measures to restore public confidence in urban cooperative banks (UCBs)

RBI allows urban cooperative banks to transition into Small Finance Banks

Large multi-state UCBs also allowed to become companies