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Key Measures for Urban Co-operative Banks
June 17 , 2023
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- Reserve Bank has notified four key measures, including giving them two years more to meet the priority sector lending targets.
- The four important initiatives have been taken to strengthen 1,514 Urban Co-operative Banks (UCBs) in the country.
- UCBs can now open new branches (maximum 5 branches) without prior approval of RBI.
- UCBs can also do One-Time Settlement at par with commercial banks.
- RBI has recently notified a nodal officer for UCBs.
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