Urban cooperative banks Current Affairs, GK & News

Why were six PSBs excluded from Schedule II of RBI act recently?

On September 30, 2020, the Reserve Bank of India excluded six public sector banks from the Second Schedule of RBI Act. This was done following their merger with other banks. These six banks are Oriental Bank of Commerce (OBC), Syndicate Bank, United Bank of India, Corporation Bank, Andhra Bank and Allahabad Bank. Highlights There were ..

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RBI releases Cyber Security Vision Framework for Urban Cooperative Banks

On September 25, 2020, the Reserve Bank of India released Cyber Security Vision Framework for Urban Cooperative Banks (UCBs). The apex bank has taken four different guiding principles in order to formulate the framework. This is because the heterogeneity of UCBs in India in terms of regions, size, digital depth and financial health is huge. ..

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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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What is RBI’s Complaint Management System?

The Reserve Bank of India (RBI) has launched Complaint Management System (CMS), on its website for facilitating RBI’s grievance redressal process. About CMS It is a software application launched by RBI for lodging complaints against any regulated entity with public interface such as commercial banks, urban cooperative banks (UCBs), Non-Banking Financial Companies (NBFCs). Objective: To ..

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RBI launches Single Window Portal for Customer Complaints

The Reserve Bank of India (RBI) has launched a single window portal, Complaint Management System for addressing customer complaints relating to banks and non-banking finance companies (NBFCs) through an online portal. Complaint Management System The Complaint Management System (CMS) is a software application of the RBI to facilitate RBI’s grievance redressal process. Complaints can be ..

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