Urban

Urban Cooperative Banks in India: RBI Rules and Safety for Depositors

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Urban Cooperative Banks in India: RBI Rules and Safety for Depositors

If you have a savings account or a fixed deposit in a cooperative bank, there is a good chance you have wondered at some point whether your money is truly safe. The collapse of Punjab and Maharashtra Co-operative (PMC) Bank in 2019 shook public confidence, and it forced regulators to rethink how urban cooperative banks … Read more

Urban Cooperative Banks Are Using AI to Catch Fraud Before It Happens — Here’s How

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Urban Cooperative Banks Are Using AI to Catch Fraud Before It Happens — Here's How

Last March, a branch manager at a mid-sized urban cooperative bank in Pune, Maharashtra noticed something strange — or rather, the bank’s new software noticed it for him. A cluster of 14 transactions, each just under the ₹50,000 reporting threshold, had been flagged automatically overnight. The amounts originated from three different accounts but routed funds … Read more