Union Minister of Cooperation Amit Shah on Saturday urged urban cooperative banks (UCBs) to look at the RBI from a “different viewpoint”, underlining that the central bank has “proactively helped” the sector in recent times.
Speaking at the inauguration of a new office building of the National Urban Cooperative Finance and Development Corporation (NUCFDC) at the BSE here, Shah also said that when it comes to the safety of money, no other segment is as safe for lenders as small borrowers.
“I know of your experience till now. RBI looks at you from a particular viewpoint, and UCBs also look at RBI from a different viewpoint. But we have to come out of it,” Shah told the audience comprising executives from over 1,400 UCBs and other stakeholders.
“My five years’ experience as the Union Cooperatives Minister suggests that whenever we have put a step forward with confidence, RBI has proactively helped us,” he added, listing out the relaxations delivered by RBI.
Among other aspects, RBI ha
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