 "RBI, reserve bank of india")
The Reserve Bank of India (RBI) on Tuesday said urban cooperative banks (UCB) with deposit size of Rs 100 crore and above should have a professionally run board of management, and CEO appointments would be subject to the RBI’s nod.
“The BoM (board of management) shall comprise persons with special knowledge and practical experience in banking, to facilitate professional management and focused attention to banking-related activities of the UCBs through appropriate amendments to their bye-laws, in accordance with the enclosed guidelines following the due process,” the RBI said.
It added that the board of directors of UCBs should also carry out a
