{"id":82471,"date":"2026-01-14T11:06:45","date_gmt":"2026-01-14T05:36:45","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=82471"},"modified":"2026-01-14T15:59:50","modified_gmt":"2026-01-14T10:29:50","slug":"urban-cooperative-banks","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/urban-cooperative-banks\/","title":{"rendered":"Urban Cooperative Banks"},"content":{"rendered":"<h2><b>Urban Cooperative Banks Latest News<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Reserve Bank of India (RBI) proposed resuming the issuance of licenses for Urban Cooperative Banks (UCBs) after nearly two decades.\u00a0<\/span><\/p>\n<h2><b>About Urban Cooperative Banks<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Urban Cooperative Banks are not formally defined but refers to <\/span><b>primary cooperative banks located in urban and semi-urban areas<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>History:<\/b><span style=\"font-weight: 400;\"> The first formal co-operative legislation in India came with the <\/span><b>Co-operative Credit Societies Act of 1904 (During Lord Curzon\u2019s tenure) and also <\/b><span style=\"font-weight: 400;\">enacted the more comprehensive <\/span><b>Co-operative Societies Act of 1912.<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The first urban cooperative credit society,(Anyonya Sahakari Mandali) was established in <\/span><b>1889 in Baroda.<\/b><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Functions:<\/b><span style=\"font-weight: 400;\"> Provide services like housing <\/span><b>finance, personal loans<\/b><span style=\"font-weight: 400;\">, MSME credit, and deposits to small borrowers, traders, and small-scale industries.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">They are registered as cooperative societies under the provisions of, either the <\/span><b>State Cooperative Societies Act <\/b><span style=\"font-weight: 400;\">of the State concerned or the <\/span><b>Multi State Cooperative Societies Act, 2002.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Regulation:<\/b><span style=\"font-weight: 400;\"> The Reserve Bank regulates and supervises the <\/span><b>banking functions of UCBs<\/b><span style=\"font-weight: 400;\"> under the provisions of <\/span><b>Banking regulation Act, 1949<\/b><span style=\"font-weight: 400;\">.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Banking related functions<\/b><span style=\"font-weight: 400;\"> (viz. licensing, area of operations, interest rates etc.) are to be governed by RBI.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Registration, management, audit and liquidation<\/b><span style=\"font-weight: 400;\">, etc. are governed by State Governments as per the provisions of <\/span><b>respective State Acts.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The Reserve Bank has vested powers to issue licenses to UCBs <\/span><b>under Section 22 and 23<\/b> <b>Banking Regulation Act, 1949<\/b><span style=\"font-weight: 400;\"> to carry on banking business and to open new places of business(branches, extension counters, etc.) respectively.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>Source: <\/b><strong><a href=\"https:\/\/economictimes.indiatimes.com\/markets\/stocks\/news\/rbi-plans-new-eligibility-norms-for-urban-co-op-bank-licences\/articleshow\/126515373.cms?from=mdr\" target=\"_blank\" rel=\"nofollow noopener\">ET<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Urban Cooperative Banks are primary cooperative banks located in urban and semi-urban areas. Read more about Urban Cooperative Banks, History, Functions, Regulation, Latest News.<\/p>\n","protected":false},"author":24,"featured_media":82510,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[21,22,23,4730],"class_list":{"0":"post-82471","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-prelims-pointers","9":"tag-upsc-current-affairs","10":"tag-upsc-prelims-current-affairs","11":"tag-urban-cooperative-banks","12":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/82471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=82471"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/82471\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/82510"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=82471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=82471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=82471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}