We observe that over the years, many UCBs have lost their cooperative character and have been reduced to almost family run institutions. To ensure cooperative membership, RBI has prescribed that the proportion of borrowing nominal members should be limited to 20% of regular members.
In all of the advanced economies, inflation – in both headline and core terms – has fallen and, in most cases, is currently below the relevant target or medium-term average. Given the considerable excess capacity that currently exists, most of these countries are likely to continue experiencing disinflationary pressures for some time yet, and have inflation rates that are below target.