RBI Sets Rs 300 Crore Capital, Rs 10,000 Crore Deposit Minimum for Urban Cooperative Bank Licenses

Summary

The Reserve Bank of India (RBI) is resuming urban cooperative bank licenses after two decades, requiring applicants to have a minimum capital of Rs 300 crore and Rs 10,000 crore in deposits. Eligible credit societies must demonstrate positive financial trends and sound credentials over five years, with preference for those over ten years old and with a multi-state presence.