RBI panel for conversion of large UCBs into regular banks

Last Updated: Thursday, August 20, 2015, 22:18

An RBI panel Thursday recommended converting urban cooperative banks (UCBs) with business size of Rs 20,000 crore or more into regular banks to allow them to grow and proliferate further for financial inclusion.

Money laundering: Over 480 urban cooperative banks under RBI lens

Last Updated: Monday, March 9, 2015, 16:38

Over 480 urban cooperative banks across the country have come under the scanner of the Reserve Bank of India (RBI) for alleged violation of anti-money laundering laws.

Urban cooperative banks misused for money laundering

Last Updated: Wednesday, October 30, 2013, 13:49

Urban Cooperative Banks (UCBs), which hold deposits of over Rs two lakh crore, are being misused for money laundering causing alarm to the government.

UCBs with deposits of over Rs 750cr can be a scheduled bank

Last Updated: Friday, September 27, 2013, 20:58

The Reserve Bank today allowed urban cooperative banks (UCBs) with total deposits of over Rs 750 crore to graduate to scheduled bank category.

RBI revises criteria for declaring dividend by UCBs

Last Updated: Thursday, July 5, 2012, 22:22

RBI on Thursday said urban cooperative banks (UCBs) which have less than five percent of NPAs and comply with Capital to Risk-Weighted Assets Ratio norms may declare dividends without its prior permission.

Verify IT Returns before opening businessmen A/Cs: RBI

Last Updated: Friday, May 11, 2012, 19:37

In a bid to check frauds, the Reserve Bank on Friday asked the Urban Cooperative Banks (UCBs) to verify Income Tax returns and other documents before opening bank accounts of businessmen as part of the KYC exercise.

Verify IT Returns before opening businessmen A/Cs: RBI

Last Updated: Friday, May 11, 2012, 19:37

In a bid to check frauds, the Reserve Bank on Friday asked the Urban Cooperative Banks (UCBs) to verify Income Tax returns and other documents before opening bank accounts of businessmen as part of the KYC exercise.

RBI to issue fresh guidelines for UCBs in June: Govt

Last Updated: Friday, May 4, 2012, 19:25

The Reserve Bank will issue fresh guidelines for urban cooperative banks (UCBs) in June, 2012, Parliament was informed on Friday.

RBI asks urban cooperative banks to get ready for IFRS

Last Updated: Tuesday, March 6, 2012, 19:32

The Reserve Bank Tuesday asked urban cooperative banks (UCBs) to take necessary steps to ensure smooth transition to new international accounting norms IFRS from April 2014.