 "RBI, reserve bank of india")
The Reserve Bank of India (RBI) said on Thursday it would revise regulatory guidelines to make urban co-operative banks (UCBs) with assets of Rs 500 crore and above to report information on large credits. The move comes in the wake of an alleged fraud at Punjab and Maharashtra Co-operative (PMC) Bank involving a large real estate firm.
The RBI, in its developmental and regulatory policies, said it would amend the guidelines for UCBs to reduce concentration risk in exposures, priority sector lending and strengthen their role in promoting financial inclusion.
State Bank of India Chairman Rajnish Kumar said the regulatory steps for
