Date:20/01/2007 URL: http://www.thehindubusinessline.com/2007/01/20/stories/2007012003580600.htm

Back RBI to assess urban co-ops' staff, tech needs

Our Bureau

Advertisement

Mumbai Jan. 19 The Reserve Bank of India would assess the training and computerisation needs of the multi-State urban co-operative banks to upgrade their human resources skills and technological infrastructure so that they improve their operational efficiency and quality of management.

The Ministry of Agriculture, Government of India and the Reserve Bank of India have signed a memorandum of understanding (MoU) and a central level "Task Force on Multi State Urban Co-operative Banks (TAFCUB)" has been constituted. Mr N.S. Vishwanathan, Chief General Manager, Reserve Bank of India, Urban Banks Department, is the Chairman of the TAFCUB

"The Centre, the Reserve Bank and national and state-level federations or associations of urban cooperative banks would also be represented on the taskforce. The first meeting of the TAFCUB will be held shortly," said a press release by the RBI.

After the signing of an MoU for multi-State UCBs, 1,462 out of 1,853 UCBs stand covered under the TAFCUB, the release said. These UCBs account for about 90 per cent of deposits in the sector.

"Signing of MoU between respective (State or Central) governments and the Reserve Bank of India will address the problem of dual control by putting in place an arrangement through which there is a convergence on the approach and remedial actions required to be ," the release said.