Maharashtra Urban Cooperative Banks Federation Chairman Ajay Brahmecha said due to continuous correspondence and meetings with the Regulator, approximately 122 UCBs came out of SAF in 2023-24 FY, he informed.
He added that while the banks which are still in SAF, should cooperate with the federation by giving their updated/factual financial information so that the best can be done by us to bring them out of SAF.
Brahmecha was addressing the 45th Annual General Meeting of MUCBF. He emphasized on timely compliance and submission of reports to the RBI, importance of technology adoption, strengthening Cyber Security Framework etc. He also spoke about Professionalism in Management.
On this occasion, he informed participants about some policy reliefs granted by Regulators to the sector, especially of PSL shortfall & Small Value Loans. He said that due to continuous follow up and personal visits to the office of Union Cooperation Minister, succeeded in getting extension to achieve targets of Priority Sector Lending and Small Value Loans, he remarked.