BANKING AFFAIRS

Detailed explanation-1: -The Urban Banks Department of the Reserve Bank of India is vested with the responsibility of regulating and supervising primary (urban) cooperative banks, which are popularly known as Urban Cooperative Banks (UCBs).

Detailed explanation-2: -Q. Who manages the registration and management activities of Urban co-operative banks in India? Notes: Registration and Management activities are managed by Registrar of Cooperative Societies (RCS).

Detailed explanation-3: -The Department of Co-operative Bank Regulation (DCBR) regulates State Co-operative Banks (StCBs), District Central Co-operative Banks (DCCBs) and Urban Cooperative Banks (UCBs).

Detailed explanation-4: -As the vast majority of co-operative societies are operating only in one State, the State Government and the Registrar of Co-operative Societies appointed by the State are the main regulatory authorities for the co-operative societies. 1. Constitution of India, Schedule VII, List II, Item 32.

Detailed explanation-5: -Urban Co-operative Banks (UCB) are regulated and supervised by State Registrars of Co-operative Societies (RCS) in case of single-state co-operative banks and Central Registrar of Co-operative Societies (CRCS) in case of multi-state co-operative banks and by the RBI.