New Delhi, Nov. 11 -- The National Urban Cooperative Finance and Development Corporation (NUCFDC) plans to seek Self-Regulatory Organisation (SRO) status for co-operative banks from the Reserve Bank of India in the next two months, as it is near the Rs.300 crore paid-up capital threshold, said a top official in an interview.

NUCFDC CEO Prabhat Chaturvedi said that board resolutions for additional capital contributions (to reach Rs.300 crore capital) by other urban cooperative banks (UCBs) are already in place. By 17 November, contributions will start flowing into NUCFDC, with share allotments beginning in mid-December. NUCFDC is the umbrella organisation for cooperative banks.

"Following this round of capital raising from UCBs, we will ...