One of the major recommendations was on capital adequacy norms for the three tiers of STCCS. Regulatory initiatives 8. The Committee on Financial Sector Assessment recommended that all banks should obtain a license before March 31, 2012 and those who failed to obtain a license should be phased out of a cooperative space in a non-disruptive manner.
25 State Governments signed the MoU for the financial assistance under the Government of India Revival Package for STCCS announced as per the recommendations of the Task Force. Reserve Bank, as a major policy measure, relaxed the licensing norms for state and central cooperative banks. The twin initiatives resulted in licensing of a large number of banks starting from 2008. 9.