The Governor of the Reserve Bank of India held a meeting in Mumbai on January 19, 2026, with the Chairpersons, Managing Directors and Chief Executive Officers of select Urban Co-operative Banks (UCBs), as part of the RBI’s ongoing engagement with regulated entities. The previous such meeting was conducted on March 19, 2025.

The discussion included participation from industry bodies such as the National Urban Cooperative Finance and Development Corporation Limited and the National Federation of Urban Co-operative Banks & Credit Societies Limited. Deputy Governors Swaminathan J. and S C Murmu, along with other senior RBI officials, were also present.

In his address, the Governor reiterated the important role of UCBs in extending credit to underserved regions and strengthening financial inclusion. He also reviewed key policy initiatives introduced for the co-operative banking sector since the last interaction, expressing confidence that these measures would support the sector’s healthy and sustainable growth.

He further emphasized the need for strong governance standards, sound underwriting practices, vigilant monitoring of asset quality, and a customer-centric and ethical approach, including timely grievance redressal to uphold trust in the banking system.

During the interactive session, UCB representatives shared their feedback and suggestions on various policy and operational matters concerning the sector.