RBI to finalise UCB Capital guidelines within 3 months

Mumbai, June 14 (UNI) The Reserve Bank will finalise guidelines on options for raising capital of Urban Co-operative Banks (UCBs) within a period of three months.

In a notification today, the RBI said the decision has been taken in view of the ongoing consultations with the shareholders on various issues.

A working group, comprising representatives from RBI, state governments and UCB, who carried out the study in this regard, had tabled the report in November 2006 for feedback, it said.

UNI