RBI Governor Meets Top Bankers To Discuss Stronger Governance And Compliance
Reserve Bank of India Governor, Shaktikanta Das, met with the managing directors and chief executive officers of public sector banks and some private sector bank on Wednesday.
Several issues related to persisting gap between credit and deposit growth, liquidity risk management, cybersecurity, digital frauds and credit flows to micro, small and medium enterprises were discussed at length in the meeting, the central bank said in a press release.
Strengthening of assurance functions at banks, increasing the use of Indian rupee for cross-border transactions, and participation from banks in innovation initiatives of RBI were also discussed.
These meetings were a part of RBI's continuous engagement with senior management of its entities that fall under RBI's purview. The last such meeting was held on Feb. 14, RBI said. Apart from Das, RBI Deputy Governors M. Rajeshwar Rao and Swaminathan J were also present at the meetings, along with top officials from RBI's department of regulation and supervision functions.
In his opening remarks, Das highlighted "continued improvement in banks' asset quality, loan provisioning, capital adequacy, and profitability".
He acknowledged higher resilience and strength of the banking sector, while underlining the importance of stronger governance standards, risk management practices and compliance culture at banks. He also emphasised the need for banks to ensure robust cybersecurity controls and effectively manage third-party risks, the central bank said.
The governor also urged banks to bolster their efforts against mule accounts, and ramp up customer awareness and education initiatives, among other measures, to prevent digital frauds.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
