UCBs Must Be Mindful of Responsibilities: RBI Guv

Reserve Bank of India (RBI) governor Sanjay Malhotra on Wednesday told urban cooperative banks (UCBs) to be mindful of their responsibilities, given the trust and faith depositors repose on them.

- SACHIN KUMAR

In a meeting with the chairmen, managing directors and chief executive officers of select UCBs, the governor asked them to maintain high standards of customer service to build and retain the trust.

The governor's comments came after the RBI on February 14 had imposed business restrictions on New India Co-operative Bank and superseded the board due to concerns over poor governance.