urban co-operative banks (UCBs) Current Affairs, GK & News

RBI: Four-tiered regulatory for Urban Cooperative Banks

July 20, 2022

On July 19, 2022, a simple four-tiered regulatory framework was adopted by the Central Bank, for Urban Co-operative Banks (UCBs). Key Facts The RBI adopted the framework on the basis of size of deposits. This move is aimed at strengthening their financial soundness. N. S. Vishwanathan Committee S. Vishwanathan Committee was created to make recommendations on strengthening ..

Month: 

Category: 

Topics:  • • •

RBI extends Risk Based Internal Audit rules to HFCs

June 12, 2021

Reserve Bank of India (RBI) has extended Risk-Based Internal Audit (RBIA) rules to all deposit-taking and non-deposit taking HFCs (Housing Finance Companies) who are having assets above Rs 5,000 crore. These rules will be effective from June 30, 2022. Highlights Earlier on February 3, RBI had made these rules applicable to other entities as well. ..

Month: 

Category: 

Topics:  • • • •

RBI makes Risk-Based Internal Audit Mandatory

February 4, 2021

The Reserve Bank of India (RBI) on has introduced a risk-based internal audit (RBIA) system. It has made it mandatory for select non-banking financial companies and urban co-operative banks (UCBs). What has changed now? As per the norms, all the deposit-taking non-banking financial companies (NBFCs) with the asset size of Rs 5,000 crore will have ..

Month: 

Category: 

Topics:  • • •