abhishreshthaa
Abhijeet S
Extension of Area of operation
The policy regarding area of operation of UCBs has also been revised.
To the adjoining districts
With a view to giving more operational freedom to UCBs in regard to area of operation, it has been decided to allow new as well as existing urban co-operative banks to extend their area of operation to the whole district of registration and to its adjoining districts within their state of registration without prior permission of the Reserve Bank of India.
UCBs need not approach the Reserve Bank for seeking "no objection" in this regard and they may directly approach Registrar of Co-operative Societies of the concerned state for extension of area of operation to the entire district of registration and its adjoining districts within the state of registration. Only licensed urban co-operative banks, which are not classified as weak / sick, will be eligible for extension of area of operation beyond their present limits.
Beyond the adjoining districts
An urban co-operative bank desirous of extending its area of operation beyond adjoining districts to its district of registration but within the state may do so with prior permission of the Reserve Bank subject to:
Beyond the state of registration
An urban cooperative bank with the prior approval of the Reserve Bank may extend its area of operation beyond its state of registration provided its owned funds are not less than Rs.50 crore and it complies with all the prescribed norms. Requests regarding extension of area of operation may be made to the concerned regional office of the Reserve Bank under whose jurisdiction the UCB is functioning.
The policy regarding area of operation of UCBs has also been revised.
To the adjoining districts
With a view to giving more operational freedom to UCBs in regard to area of operation, it has been decided to allow new as well as existing urban co-operative banks to extend their area of operation to the whole district of registration and to its adjoining districts within their state of registration without prior permission of the Reserve Bank of India.
UCBs need not approach the Reserve Bank for seeking "no objection" in this regard and they may directly approach Registrar of Co-operative Societies of the concerned state for extension of area of operation to the entire district of registration and its adjoining districts within the state of registration. Only licensed urban co-operative banks, which are not classified as weak / sick, will be eligible for extension of area of operation beyond their present limits.
Beyond the adjoining districts
An urban co-operative bank desirous of extending its area of operation beyond adjoining districts to its district of registration but within the state may do so with prior permission of the Reserve Bank subject to:
Beyond the state of registration
An urban cooperative bank with the prior approval of the Reserve Bank may extend its area of operation beyond its state of registration provided its owned funds are not less than Rs.50 crore and it complies with all the prescribed norms. Requests regarding extension of area of operation may be made to the concerned regional office of the Reserve Bank under whose jurisdiction the UCB is functioning.