Reported by banking | Updated: March 30, 2021
Goa SCB and NABARD are strengthening cooperative banking in the state during difficult times: Goa has total bank deposits of Rs847.15 billion as on31 March 2020, which is a marginal growth of Rs118.66 billion over the previous year. Advances increased by Rs17.88 billion to aggregate Rs239.85 billion. According to Ulhas B. Phaldesai, Chairman, Goa State […]
Reported by banking | Updated: March 1, 2021
The Reserve Bank of India has come out with a Master Direction with regard to amalgamation of urban cooperative banks paving the way for it to consider proposals for merger and amalgamation of 2 or more urban cooperative banks (UCBs). The Master Direction has been issued even as the RBI is evaluating proposals by 3 […]
Reported by banking | Updated: January 9, 2021
Shivalik Mercantile Cooperative Bank, a multi-state urban cooperative bank in Uttar Pradesh, has become the first cooperative bank to get a license from the Reserve Bank of India to convert itself into a small finance bank under the transition scheme announced by the regulator. It proposes to start functioning as a small finance bank from […]
Reported by banking | Updated: December 31, 2020
AU Small Finance Bank launched its new mobile banking app and net banking portal. The bank said the new platforms will offer over 100 services meeting not only regular banking needs but daily lifestyle requirements such as ticket booking, bill payments, tax payments, shopping offers and much more. The AU Mobile App is available on […]
Reported by banking | Updated: December 28, 2020
Vibrant and resilient cooperative credit institutions in Gujarat have given sizable Atmanirbhar loans in 5 months of the covid pandemic to distressed borrowers: Gujarat State Cooperative Bank, all urban cooperative banks (including those registered under the Multi-state Cooperative Societies Act), district central cooperative banks, and cooperative credit societies and working in the state of Gujarat, […]
Reported by banking | Updated: December 14, 2020
The Mumbai-based urban cooperative bank’s initiatives include website revamp, online account opening, video KYC, and WhatsApp banking: Santosh Mohile, Head, IT, SVC Cooperative Bank, gives details of the recent digital initiatives undertaken by the bank and what is in store for the customers Mehul Dani: How have you implemented the digital strategy for the different […]
Reported by banking | Updated: December 7, 2020
The soon-to-be-introduced platforms will help the bank in mobilizing clients online: The Union Ministry of Micro, Small and Medium Enterprises had announced the ‘Interest Subvention Scheme for MSMEs’ in November 2018 for scheduled commercial banks and the government had in March 2020 decided to include cooperative banks also as eligible lending institutions. The coverage of […]
Reported by banking | Updated: November 12, 2020
Capex drives growth and modernization: Vanamala Srinivas, CEO of the Gayatri Cooperative Urban Bank, has taken the bank on the path of digital transformation successfully. Mehul Dani: How have you upgraded technology infrastructure to handle customers and transactions growth in 2020-21? How many more ATMs have been added to the current FY? Vanamala Srinivas: We […]
Reported by banking | Updated: November 5, 2020
The apex body of UCBs has kept effective interaction with its member institutions during these critical times: NAFCUB, being the apex level promotional body of urban cooperative banks and credit societies, always strives for the efficient functioning and strengthening of the sector. In order to ensure that its services are available on a continuous basis […]
Reported by banking | Updated: October 6, 2020
Senior executives of 2 scheduled UCBs analyze relevant details of banking parameters in RBI’s Financial Stability Report: The performance of scheduled urban cooperative banks (SUCBs) broadly remained stable between September 2019 and March 2020 and at the CRAR of 54 of these banks remained at 9.8% for both the quarters, according to the latest Financial […]
