The Reserve Bank of India Governor Sanjay Malhotra on Wednesday announced two measures to strengthen the cooperative banking sector and a separate proposal to improve transparency in lending rates, at the conclusion of the August Monetary Policy Committee (MPC) meeting.
The two cooperative-sector measures include draft guidelines to resume licensing of urban cooperative banks (UCBs) after a pause of more than two decades and a comprehensive review of the credit monitoring arrangement for rural cooperative banks, which was last revised in 2008.
