Urban cooperative banks (UCBs) in India have been urged to enhance their digital capabilities, particularly in addressing IT and cybersecurity vulnerabilities. It is emphasized that improved governance and risk management are necessary to protect depositors' interests, especially in the liquidation process.

Collaboration between the Reserve Bank of India (RBI) and registrars of cooperative societies is seen as crucial, with a coordinated approach that respects the distinct roles of each entity. While financial indicators for UCBs show improvement, there is still significant potential for growth in business, asset quality, and liquidity.

The Second Conference of State Registrars of Cooperative Societies in New Delhi, co-chaired by RBI Deputy Governors M Rajeshwar Rao and Swaminathan, provided a platform for discussing these issues with the participation of senior RBI officials.