31. The Urban Cooperative Banking sector witnessed a decline in the total number of banks from 1926 in March 2004 to 1793 in August 2007.
Despite this decline in numbers, public confidence in the sector continued to rise as reflected by the increase in deposits by 6.1 per cent during 2006-07 on the top of 8.6 per cent in the previous year, thereby reversing the declining trend of 2004-05 when the deposits of the UCBs had declined by 4.7 per cent.