NUCFDC to urge RBI to allow small UCBs to offer digital services
The National Urban Co-operative Financial and Development Corp. Ltd (NUCFDC)—the umbrella body for India’s urban cooperative banks (UCBs)—plans to request the banking regulator to allow smaller UCBs with net worths below ₹50 crore to offer digital services, including internet banking.
Under Reserve Bank of India (RBI) regulations, only banks with a net worth of more than ₹50 crore are allowed to offer digital services and internet banking facilities.
