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RBI proposes Board of Management for urban co-operative banks

Monday, June 25, 2018, 8:49 PM

The RBI today proposed that all Urban Co-operative Banks (UCBs) having deposits of over Rs.100 crore will have to set up a Board of Management within one year to promote professional management in the banks. BoM will be in addition to the Board of Directors (BoD), said the RBI's draft guidelines on which it has invited public comments by July 24.

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