RBI unveils new corrective action framework for Urban Co-operative Banks

New Delhi [India], July 26 (ANI): The Reserve Bank of India has issued a corrective action framework for primary Urban Cooperative Banks (UCBs), which shall be followed promptly.

The provisions of the prompt corrective action framework will be effective from April 1, 2025, the RBI said in a statement on Friday.

For UCBs that are weak or experiencing financial stress, the RBI has issued a supervisory action framework as an