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Tuesday, Jun 01, 2004

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Money & Banking - Co-operatives

OSS reports must for UCBs

Our Bureau

Mumbai , May 31

THE Reserve Bank of India has decided to extend the offsite surveillance (OSS), a supervisory reporting system first introduced for the scheduled primary (urban) cooperative banks, to all non-scheduled UCBs having a deposit size of Rs 100 crore and above.

While the bank profile statement should be prepared as on March 31 every year, the other quarterly returns are required to be prepared with reference to the financial position as on March 31, June 30, September 30 and December 31 of every year. All returns are required to be submitted to the RBI within one month from the end of the quarter/year. The OSS returns would come into effect from quarter ended June 30, 2004.

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