RBI, Delhi Govt sign MoU for promoting Co-operative Banks

Mumbai, Aug 6 (UNI) The Reserve Bank of India (RBI) and Delhi government today signed a memorandum of understanding (MoU) and constituted a state-level Task Force on Urban Co-operative Banks (TAFCUB) to strengthen measures for promoting Urban Co-operative Banks in Delhi.

Under the guidelines of the MoU, the constituted task force will identify the potentially viable urban co-operative banks and to draw up a time-bound action plan for their revival by setting specific monitorable milestones, RBI said in a statement today.

The Central Bank said these initiatives has been taken to make an arrangement through which there is a convergence on the approach and remedial actions required to be taken for facilitating the development of the sector. While, as part of its developmental role, the apex bank would also assess the training and computerisation needs of the Urban Co-operative Banks in the state, with the objective of upgrading their human resources skills and technological infrastructure so that they improve their operational efficiency and quality of management information systems.

Such MoUs have also been signed with the governments of Gujarat, Andhra Pradesh, Karnataka, Madhya Pradesh, Rajasthan, Uttaranchal, Chattisgarh, Goa, Maharashtra and Haryana, the statement added.

UNI