During the 45th Annual General Meeting of the Maharashtra Urban Cooperative Banks Federation (MUCBF), RBI Central Board Director and Senior Cooperator Satish Marathe raised significant concerns regarding the collection and availability of data from Urban Cooperative Banks (UCBs).
Marathe highlighted the challenges faced when approaching regulatory bodies, stating, “Whenever we go to the regulator with specific demands or seek relaxations, RBI officials always ask for data supporting our requests, which we are unable to provide, ” he lamented.
To address this issue, Marathe appealed to the banks, urging them to promptly provide the required data to federations and associations whenever requested, he urged.
Marathe underscored the importance of accurate and timely data in facilitating effective communication and redressal of issues within the cooperative banking sector.