Archive · 8 Aug 2026
Shah urges cooperative banks to be transparent and modernise
A minister named Amit Shah gave a speech about a special kind of bank called a cooperative bank.
These banks help small shopkeepers and small businesses in towns, called talukas.
Shah said big banks cannot help everyone, so cooperative banks are very important.
He wants these banks to be open about what they do and to use new technology.
A new helping group, called an umbrella organisation, will be created to support them.
This group will teach the banks the rules and give them helpful software like Mule Hunter.
Shah wants all 1,400 of these cooperative banks to join the new group.
He said the central bank, called the Reserve Bank of India, will make sure people's money stays safe.
He believes helping these banks will help make the whole country of India prosperous.
Union Minister Amit Shah called on cooperative banks to be transparent and modernise in order to remain competitive.
He said a new umbrella organisation will provide UCBs technical support, guidance on Reserve Bank of India compliances, and software such as Mule Hunter.
Shah argued that large banks cannot meet the credit needs of small shopkeepers, MSMEs, women's self-help groups, and middle-class borrowers, a role UCBs play at the taluka level.
He said there is a perception gap between the RBI and UCBs and that the central bank has proactively supported the cooperative sector whenever it stepped up confidently.
Shah said the RBI is responsible for ensuring smooth functioning of banks and the safety of depositors' money, and urged all 1,400 UCBs to join the umbrella body.
- Who
- Union Minister Amit Shah and India's urban cooperative banks (UCBs)
- What
- Shah urged cooperative banks to be transparent and modernise, and to join a new umbrella organisation that will provide technical support and guidance on RBI compliances
- When
- Not specified in the article
- Where
- India (referring to UCBs operating at the taluka level)
- Why
- To keep cooperative banks competitive, support small borrowers and self-employment, and ensure the safety of depositors' money
- Speaker
- Union Minister Amit Shah
- Audience
- Urban Cooperative Banks (UCBs)
- Number of UCBs
- 1,400
- Key Demands
- Transparency and modernisation to remain competitive
- New Support
- Umbrella organisation offering technical support, compliance guidance, and software such as Mule Hunter
- Regulator
- Reserve Bank of India (RBI)
- Borrowers Served by UCBs
- Small shopkeepers, small businessmen, MSMEs, women's self-help groups, and middle-class loan seekers