The Reserve Bank of India (RBI) has signed up a memorandum of understanding (MoU) with the Uttar Pradesh government to constitute a State level task force on Urban Co-operative Banks (TAFCUB).

The task force will supervise development of the urban cooperative banks in the state.

Shri D.P.S.Rathore, Regional Director for Uttar Pradesh, Reserve Bank of India, is the Chairman of the TAFCUB, whereas Shri Suresh Chandra, Registrar of Cooperative Societies, Government of Uttar Pradesh is its Co-Chairman. The other members of the TAFCUB consist of a representative, each from State and National Federation of Urban Cooperative Banks, a nominee of State Government of Uttar Pradesh and a representative of Urban Banks Department, Reserve Bank of India, Central Office, Mumbai.

The first meeting of the TAFCUB will be held soon.

As part of its developmental role, the central Bank would help in bettering the competence and quality of management information system by up-gradation of the human resource skills and technological infrastructure of the UCBs.

The Reserve Bank has signed similar MoUs with the governments of Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh, Rajasthan, Uttaranchal, Chattisgarh, Goa, Maharashtra, Haryana, National Capital Territory of Delhi, West Bengal, Assam, Tripura and Punjab.