The Reserve Bank of India (RBI) Governor met with the Chairmen, Managing Directors, and CEOs of select Urban Cooperative Banks (UCBs) on March 19, 2025, in Mumbai. The meeting also saw participation from industry bodies National Urban Cooperative Finance and Development Corporation Limited (NUCFDC) and National Federation of Urban Cooperative Banks & Credit Societies Limited (NAFCUB).
The engagement was attended by Deputy Governors M. Rajeshwar Rao and Swaminathan J., along with Executive Directors overseeing Regulation and Supervision.
During his opening remarks, the Governor acknowledged the critical role of UCBs in deepening financial inclusion and serving communities at the grassroots level. He assured the RBI’s continued support for the sector’s growth ambitions but stressed the importance of upholding depositor trust by maintaining high standards of customer service and operational resilience.
The Governor also highlighted the need for stronger safeguards against IT and cyber-related risks, urging UCBs to enhance their technological preparedness.
The meeting included an interactive session where industry representatives provided feedback and put forth suggestions to address challenges and strengthen the sector further.
This engagement is part of RBI’s ongoing discussions with its regulated entities, aiming to enhance the stability and governance of Urban Cooperative Banks in India.
