We recognized the risk of distancing ourselves from the regulated entities and sought to develop close communication not only with other stakeholders but also with the banks. This gave us an intimate feel of the sector and facilitated formulation of realistic and customized responses.
Our next policy goal is to raise the awareness among UCBs of the need for the induction of depositors as regular members, at least, those with deposits above a threshold, which would make for a better balance in the governance of urban cooperative banks and help further boost public confidence.