The Expert Committee on Licensing of New Urban Co-operative Banks has recommended creation of a professional Board of Management structure in between the Board of Directors and the CEO as a pre-condition for licensing of new urban co-operative banks. A final roadmap will be prepared after issues relating to governance arrangements are resolved with the Government.
Criticality of management quality Robust co-operative laws are a necessary precondition for co-operative success. I am, however, reminded of Aristotle who said “It is better for a city to be governed by a good man  BIS central bankers’ speeches  7  than good laws”.