Government of Sikkim signs MoU with Reserve Bank of India

Mumbai, Oct 20 (UNI) The Government of Sikkim and the Reserve Bank of India (RBI) have today signed a Memorandum of Understanding with regard to Urban Co-operative Banks in the State of Sikkim.

The other members of the TAFCUB include a representative, each from State and National Federation of Urban Cooperative Banks, a nominee of State Government of Sikkim and a representative of Urban Banks Department, Reserve Bank of India, Central Office, Mumbai. The first meeting of the TAFCUB will be held shortly, a release issued by RBI said here today.

Similar MoUs have also been signed with the Governments of the States of Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh, Rajasthan, Uttarakhand, Chattisgarh, Goa, Maharashtra, Assam, NCT of Delhi, Haryana, West Bengal, Tripura, Punjab, Uttar Pradesh, Manipur, Meghalaya, Himachal Pradesh, Kerala, Mizoram and Tamil Nadu, thus covering 98.6 per cent of number of UCBs accounting for 99.2 per cent of deposits of the sector.

As part of its developmental role, the Reserve Bank would also be assessing the training, computerisation needs of the Urban Co-operative Banks in the State of Sikkim 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.

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