RBI Update – Small Value Loans – Primary (Urban) Co-operative Banks (UCBs)

UCBs were required, inter alia, to have at least 50 per cent of their aggregate loans and advances comprising of Small Value Loans, i.e., loans of value not more than ₹25 lakh or 0.2 per cent of their Tier I capital, whichever is higher, subject to a maximum of ₹1 crore, per borrower. The target date for complying with the above requirement was March 31, 2024.
It has been decided to extend the glide path to achieve the aforementioned target by two years as given below:

Link –https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12709&Mode=0