25. The Discussion Paper noted that the Urban Co-operative Banks (UCBs) are organised based on the principles of co-operation. UCBs are perceived as banks for people of small means. They cater to the financial needs of local communities and serve the lower and middle strata of population in urban and semi-urban areas, within a limited geographical boundary.
By standing on each other’s shoulders the bird is able to reach the fruit for all of them. Preventing future global financial crises requires us to understand the web of mutual interdependence characterised by the endless knot, and the wisdom of the four friends.