RBI vide Notification no. RBI/2021-22/62
dated 25th June, 2021 has notified about
the appointment of Chief Risk Officer in
Primary (Urban) Co-operative Banks.
i. With increasing size and scope of
business, Primary(Urban) Co-operative
Banks (UCBs) are gradually getting
exposed to greater degree of risks.
ii. It has been decided that all UCBs
having asset size of ₹5000 crore or
above, shall appoint a Chief Risk
Officer (CRO). The Board must clearly
define the CRO’s role and
responsibilities and ensure that he/she
functions independently.
https://www.rbi.org.in/Scripts/NotificationUs
er.aspx?Id=12121&Mode=0