To enhance coordination and communication with the urban cooperative banking sector, the Reserve Bank of India has designated a Chief General Manager as a nodal point of contact. The decision was announced following a crucial meeting held between the Governor of RBI and key stakeholders in the sector.The meeting, which took place on May 12, included discussions with the National Federation of Urban Co-operative Banks and Credit Societies Limited (NAFCUB), federations of Urban Co-operative Banks (UCBs) from specific states, and the CEOs of select UCBs. The primary objective of the meeting was to establish closer ties and streamline policy and regulatory matters concerning the UCB sector.To facilitate this coordination, the RBI has appointed Scenta Joy as the Chief General Manager of the Department of Regulation to serve as the nodal officer. As the designated senior official, Joy will act as the key point of contact for UCBs and other relevant entities regarding sector-level matters. To ensure effective communication, the nodal officer will engage in formal interactions with representatives of UCBs and federations on a quarterly basis.Stakeholders and concerned entities within the UCB sector can reach out to Scenta Joy, Chief General Manager of the Department of Regulation, via email at [email protected].
