I wish the conference all success. 1 Co-operative banks are regulated under Section 56 of the BR Act, 1949 subject to certain modifications. As Co-  operative banks are exempted from certain provisions of the Act, the regulatory authority of the Reserve Bank over UCBs is limited.
2 Such as Immediate Payments Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money  (BHIM), Bharat Bill Pay System (BBPS), Aadhaar-enabled Payment System (AePS), Bharat QR code and mobile wallets.