Urban cooperative banks need to focus on symmetric development, adopt modern banking methods: Shah

Updated: few hours ago

New Delhi, Jun 23 (PTI) Asserting that urban cooperative banks (UCBs) need to focus on symmetric development, Cooperation Minister Amit Shah on Thursday asked UCBs to undertake key reforms including hiring young talent and adopting modern banking methods in order remain competitive.

Structural changes, strengthening of human resources, computerising accounting process, hiring experts to handle surplus funds are the other reforms that UCBs need to undertake in order to compete with nationalised and private banks, he said.

By implementing these reforms, the UCBs should make themselves more irrelevant in the current times, the minister said and assured that cooperative banks will not be treated like a "second grade citizen".