Cooperative banking Current Affairs, GK & News

Merger of DCCBs with StCBs

Reserve Bank of India will consider merger of District Central Co-operative Banks (DCCBs) with State Cooperative Banks (StCBs) if the concerned state government will make any proposal. Highlights RBI has notified the guidelines for merging DCCBs with StCBs as two-tier Short-term Co-operative Credit Structure (STCCS). Banking Regulation (Amendment) Act, 2020 has also been notified in ..

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Cooperative Banks brought under RBI

On June 24, 2020, the Union Cabinet chaired by PM Modi approved to bring cooperative banks under the Reserve Bank of India. This is to be done through an ordinance. Highlights There are about 1,482 crores of urban cooperative banks. Apart from these, India also holds 58 multi-state cooperative banks. These banks together support 8.6 ..

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RBI reduces exposure limits for UCBs

According to the Reserve Bank of India (RBI) notification, the single borrower and group exposure limit for Urban cooperative banks (UCBs) to 15% and 25% of tier I capital, respectively. This reduction in limit is to mitigate concentration risks arising out of large loans. Existing norms allowed 15% for single borrowers and 40% to group ..

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NABARD to disburse Rs. 21,000 to farmers via cooperative banks

The union government has allowed National Bank for Agriculture and Rural Development (NABARD) to disburse Rs 21,000 crore to cash-starved farmers ahead of the sowing season to sow rabi crops like Wheat. NABARD will disburse the money to District Central Cooperative Banks (DCCBs) which will pass it on to the farm cooperatives for meeting crop loan ..

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New Committee to bolster rural credit structure: RBI

RBI set up a panel to find ways to strengthen the rural cooperative credit structure. The 7 member Committee headed by NABARD Chairman Prakash Bakshi will; · Review the prevailing Short Term Cooperative Credit Structure (STCCS), focusing on structural hindrances in rural credit delivery system. · Discover ways to strengthen the rural cooperative credit architecture. ..

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