Urban Cooperative Banks
Despite the critical role played by Urban cooperative Banks (UCBs) in financial inclusion, governance issues persist. In 2023-24, 24 UCBs lost their licenses due to mismanagement. Their market share declined to 2.5% (March 2024) from 3.8% in 2017, and gross NPAs stood at 8.8% in March 2024.
About UCBs
- Urban Cooperative Banks (UCBs) primarily operate in urban and semi-urban areas, serving small borrowers and micro-businesses.
- Their legal foundation dates back to the Cooperative Credit Societies Act of 1904, with the first urban cooperative credit society established in 1889 (Baroda).
- UCBs function under a dual regulatory framework, where the RBI oversees ....
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