Mumbai, July 28 -- The Reserve Bank of India (RBI) has announced Master Direction - Business Authorization for Co-operative Banks (Directions), 2025 today. The provisions of this Direction shall apply to all co-operative banks, i.e., Primary (Urban) Co-operative Banks (UCBs), State Co-operative banks (StCBs) and District Central Co-operative banks (DCCBs). The central bank noted that based on a comprehensive review, it has been decided to replace the Financially Sound and Well Managed (FSWM) norms for UCBs with harmonised eligibility criteria for all banks for certain business authorizations/permissions/approvals. These criteria will be referred to as Eligibility Criteria for Business Authorization (ECBA). Any reference to FSWM criteria i...