scheduled ucbs, permission to offer internet ( view only ) facility to all ucbs, enhancement of limit under the scheme of bullet payment of gold loans from ₹ 1. 00 lakh to ₹ 2. 00 lakh, permission to offer demat account trading facility and liberalization of opening of off - site atm are some of the steps taken by rbi to strengthen the sector. 17. more avenues have been provided for ucbs to earn fee based income. accordingly, ucbs are now allowed to undertake point of presence ( pop ) services under pension fund regulatory and development authority ( pfrda ), act as pan service agent ( psa ) for providing pan issuance services to its customers and issue “ semi - closed pre - paid payment instruments ” permitting payment of utility bill / essential services up to a limit of ₹ 10, 000 / 18. rbi has been conducting seminars / workshops / focused training sessions for directors / officers / staff of ucbs. this is an on - going exercise and our goal is to ensure that all directors are covered under the training programme at the earliest. 19. it was decided to make it mandatory to conduct the statutory audit of ucbs with a deposit base of above ₹ 250 million by statutory auditors ( sas ) who will be qualified chartered accountants. however, it was observed that there were large divergences between the audited financial parameters of ucbs and that assessed by inspecting officers. as statutory audit is one of the important inputs based on which on - site supervision is conducted, it is imperative to improve and strengthen the quality of reports of sas. it has therefore been decided to hold workshops / seminars for sas to sensitize them with irac norms issued by rbi. institute of chartered accountants of india ( icai ) is also being advised to prescribe a standard format for statutory audit report of the ucbs. steps taken for strengthening the regulation and supervision of the sector 20. rbi moved to camels pattern of rating of ucbs w. e. f. march 31, 2011 in lieu of earlier system of grading. with the switchover to rating system, there were 697 ucbs in c & d rating which constituted 42. 47 % of the total ucbs as on march 31, 2011. the number of c & d rated ucbs has declined to 339 constituting 21. 50 % of total number of ucbs as at the end of march 31, 2015. the number of ucbs in a & b rating increased from 94

emphasis on safeguarding can stifle innovation and growth, while too little can expose the system to significant vulnerabilities. finding that right balance so that we can have a robust financial system that can weather crises without constraining economic progress is one of the key challenges that we face today. indeed, central banks are much like wicketkeepers in cricket or goalkeepers in footballoften unnoticed in success but always in the spotlight during failure. when everything works seamlessly, their efforts remain behind the scenes, often taken for granted. 1 / 3 bis - central bankers'speeches however, when a crisis occurs, they are asked as to how they could allow the ball to slip through their fingers! in addition, central bankers are also tasked with preventing further damage and restoring stability quickly. let me offer an analogy : imagine a person teetering on the edge of a cliff, seemingly about to fall, only to be pulled back just in time by a watchful observer. when central banks intervene in such a manner to prevent a potential crisis, those they protect may claim they didn't need saving at all. this highlights a common paradox - while regulators work tirelessly to maintain stability and avert disasters, their successes often go unnoticed, and their actions are sometimes viewed as unnecessary, intrusive or excessive by those unaware of the risks. yet it is precisely this proactive oversight that ensures the safety and soundness of the financial system, allowing it to function smoothly even in times of uncertainty. over the years, the role of central banks has significantly evolved. initially seen as the lender of last resort, today, central banks are equipped with a broad range of toolsregulatory, supervisory, and monetary - to ensure the stability of the financial system. in some countries, central banks do not have supervisory roles, with the supervision being carried out by a separate agency, but a coordinated approach is essential. governments, central banks, financial regulators, and the industry must all work together to ensure appropriate and timely action is taken to safeguard financial stability. in india, the financial stability and development council ( fsdc ), chaired by the union finance minister, along with its sub - committee led by the governor of the reserve bank, has been effectively facilitating discussions and enhanced understanding of risks across the financial sector. biannually, reserve bank publishes financial stability reports that deliver a thorough risk assessment of india's financial landscape. these reports utilise macro stress tests, sensitivity analyses, network and con