Being rooted in local communities, the cooperative banks across the nation are more responsive to the needs of the local people. There is a substantial increase in the operations of cooperative banks and urban cooperative banks. There is a provision in RBI with effect from 1st March 1966 for protecting the interest of the depositor. The urban cooperative banks cater to the financial needs of more than 85 million depositors and 6.6 million borrowers across the nation and for the customers who are mainly from the low-income segments of the population. The urban cooperative banks play a significant role in reaching the last mile customers, despite their lower market share.
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