Extend the term of the EC for UCBs by 2 months: Sahakar Bharati to RBI

Sahakar Bharati has urged RBI to extend the date of submission of the views of stakeholders of the CoOperative sector before the newly constituted Expert Committee for the UCBs.

In a statement released by Sahakar Bharati on 12 May 2021, thanking RBI for constituting Expert Committee on UCBs, Sahakar Bharati asserts that the EC will examine the issues and provide a Roadmap for strengthening the Urban Banking Sector.

Sahakar Bharati statement signed by Sahakar Bharati National President Ramesh Vaidya and Ntl Gen Secretary Dr Uday Joshi says: “The term of the Committee expires on 8th of June, 2021. Due to Covid conditions and the continued surge of Covid infections, it has not been possible for many UCBs, Academicians, CoOperators, etc to submit their views to the Committee.”

Citing the Covid situation in India, Sahakar Bharati has appealed to RBI to extend the time frame for giving Report, by at least 2 months to swift facilitation for the submission of feedback to the Committee.

Read The Letter to RBI Governor