RBI releases draft circular on UCBs


The Reserve Bank on Wednesday released a draft circular on ‘Issue and regulation of share capital and securities — Primary (Urban) Co-operative Banks’(UCBs), following the changes mandated by certain amendments to the Banking Regulation Act, 1949.

The Reserve Bank of India has invited comments on the draft circular from Urban Co-operative Banks, other participants in the sector as well as other interested parties by August 31, 2021.

Feedback on the draft circular may be forwarded by email, the banking regulator added.



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