The fate of 90 urban co-operative banks (UCBs) in Maharashtra hangs in balance even as a Reserve Bank of India (RBI) rehabilitation committee is making attempts to revive their fortunes.
This follows the erosion of owned funds and recovery glitches of the UCBs. Almost 60 per cent of these UCBs are located in Mumbai and the Pune-Kolhapur belt of western Maharashtra. There are 658 UCBs in the state.
In fact, owned funds (share capital plus free reserves) of some of the UCBs have been wiped out.
