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    Current Affairs : November 2014R Gandhi committee of RBI recommends conversion of UCBs into regularbanks

    August 22, 2015 No commentsA Reserve Bank of India (RBI) committee has recommendedconversion of Urban Cooperative Banks (UCBs) with businesssize of 20,000 crore rupees or more into regular banks.This recommendation was given by the High PoweredCommittee on UCBs headed by RBI Deputy Governor R Gandhi inits report.

    RecommendationsConversion of UCBs will not be compulsory for large UCBs and they can continue theway they operate currently in terms of asset size and balance sheet.Large UCBs can convert themselves into commercial banks in order to minimise thesystemic risk.For conversion, smaller UCBs with business size of less than 20,000 crore rupees whoare willing to convert to Small Finance Banks can apply to the RBI.Licenses for conversion to operate as UCBs will be issued to well-managed andfinancially sound cooperative credit societies having a minimum track record of 5-years.With the conversion, UCBs will be allowed to grow and proliferate further to meet theobjective of financial inclusion.

    BackgroundThe High Powered Committee on UCBs was constituted in January 2015 on therecommendation Malegam Committee (Expert Committee on Licensing of New UCBsTerms and reference of the committee was to examine and recommend on issues ofconversion of UCBs into commercial banks. The committee work was to examinepermissible business lines and appropriate size of UCBs for conversion purpose.

    Tags: Banking Business Cooperative Banks Economy Financial Inclusion

    Chinas Yan Bingtao Becomes Youngest Player to Win World SnookerTitle

    November 30, 2014 1 CommentYan Bingtao, the 14-year-old prodigy from China, has created history by becoming theyoungest player to win the mens title in the IBSF World Snooker Championship. He

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    defeated Pakistans Muhammad Sajjad 8-7 in the final matchheld in Bengaluru, Karnataka.Earlier, Yan had defeated 12 time World titles holder PankajAdvani by 6-4 to storm into the mens semi-finals.Tags: Snooker

    PM flags off Meghalayas first trainNovember 30, 2014 No comments

    Prime Minister Narendra Modi flagged-off the first train fromMendipathar, Meghalaya, to Guwahati. This was an importantoccasion in the history of Indian Railways, as Meghalaya wasbeing added to the rail network of India for first time. He alsounveiled the plaque for a new rail line from Bhairabi to Sairang.Tags: Indian Railways Meghalaya Narendra Modi

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    Zimbabwean President Robert Mugabe awarded2015 Confucius Peace Prize by China

    RBI allows banks to fix interest rates on golddeposit scheme

    India-China Joint Exercise Hand-in-Hand 2015concludes in Kunming

    Union Government clears first batch of flagshipurban projects under AMRUT

    PM Narendra Modi lays foundation stone for mobilemanufacturing facility in Tirupati

    Government divides Maharashtra and Gujarat NavalAreas into two Separate Headquarters

    Alok Rawat becomes first male member of NationalCommission for Women

    PM Narendra Modi lays foundation stone forAndhra Pradeshs new capital city

    Britain signs landmark nuclear deal with China

    Government inaugurate Indian Police Foundationand Indian Police Institute in New Delhi

    GK & Current Affairs: October 4, 2015





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