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Voluntary Transition of Primary (Urban) Co-operative Banks into Small Finance Banks:RBI

RBI/2018-19/52
DCBR.CO.LS.PCB. Cir.No.5/07.01.000/2018-19

September 27, 2018

Chief Executive Officers of all
Primary (Urban) Co-operative Banks

Dear Sir / Madam,

Voluntary Transition of Primary (Urban) Co-operative Banks (UCBs) into Small Finance Banks (SFBs)

Please refer to Paragraph 4 of the Statement on Developmental and Regulatory Policies announced on June 6, 2018 (extract enclosed) on the captioned subject.

2. Accordingly, a Scheme for voluntary transition of eligible UCBs into Small Finance Banks is enclosed to this circular.

3. The UCBs which are eligible as per the Scheme and wishing transition into Small Finance Banks voluntarily may forward their applications to The Chief General Manager, Reserve Bank of India, Department of Co-operative Bank Regulation, C-7 Building, 1st Floor, Bandra Kurla Complex, Bandra East, Mumbai-400051.

Yours faithfully,

(Neeraj Nigam)
Chief General Manager

Encl: As above

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