The Hindu Business Line : Co-op banks get more time to meet norms

THE Reserve Bank of India Governor, Dr Y.V. Reddy, has assured the urban co-operative banks that they will be provided with reasonable opportunity and justifiable time to comply with regulatory prescriptions.

The Governor, who met with representatives of federation of Urban and Rural co-operative banks, here on Thursday, noted the procedural and regulatory issues that might be addressed by the RBI, said a press release. He also indicated that in matters that need to be taken up with State and Central Governments, the RBI would take a view at the earliest and pursue them.

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