Microfinance portfolio of SFBs saw a muted growth of about 3% last year
Large urban co-operative banks may come to be solely under the provisions of the Banking Regulation Act, even as the smaller among them are to remain within the exclusive fold of the Registrar of Co-operative Societies. The upcoming changes will bring the curtains down on the vexed issue of dual control of UCBs, which has been in vogue for 54 years. The new framework will affect 1,551 UCBs in the country, which had a total business of Rs 7.36 trillion.
Bank licencing has been a "once in a decade" affair and so it could well be that we don't face this process anytime soon.
The BJP MP said the guidelines for grant of licences were 'brazenly flouted'.
In 2012, Akula quit as chairman of Bharat Financial Inclusion (formerly SKS Microfinance), which he'd founded and led to a successful initial public offering
These banks are finding it hard to pick up seasoned bankers at the pay they are offering
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