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UCBs hail RBI notification; says no impact on elected Directors

UCBs hail RBI notification; says no impact on elected Directors
indiancooperative.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiancooperative.com Daily Mail and Mail on Sunday newspapers.

Chandrakant Chougule , Jyotindra Mehta , Subhra Jyoti Bharali , Subhash Mohite , Avinash Kothale , Mukund Abhyankar , Christopher Mendoza , Shekar Desai , Janardan Ranadive , Rajeev Gupta , Sekhar Kibe , Satyaprakash Khokhara , Mohit Maski , Nagaraj Madival , Manjunathat Kanchan , Sadanandk Nayak , Pune Urban Cooperative Bank Association , Kaijs Bank , Janata Sahakari Bank , Industrial Coop Bank , Suco Bank , Jijau Commercial Cooperative Bank , Indraprastha Sehkari Bank , Kokan Mercantile Cooperative Bank , Cosmos Bank , Paraspar Urban Cooperative Bank ,

Bombay Mercantile Co-op Bank becomes the first to have BoM


Though the majority of co-operators associated with the Cooperative banking sector oppose RBI’s dictate on the constitution of Board of Management in addition to Board of Directors for the UCBs, Maharashtra based Bombay Mercantile Cooperative Bank is the first to follow RBI direction and constitute BoM.
The UCB has recently constituted the Board of Management (BoM) with six members. It has an IT Specialist, Chartered Account, Advocate and others.
“Pursuant to the recommendations of the Malegam Committee, RBI had issued guidelines for UCBs to constitute a BoM in addition to BoD for the UCBs. In this context perhaps, our bank is the first UCB in the country to constitute BoM, following the deadline set by the RBI”, said M. Shah Alam Khan. ....

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