RBI Governor inaugurates Conference for Directors on the Boards of Private Sector Banks

Mumbai: The Reserve Bank held a Conference for the Directors on the Boards of Private Sector Banks today in Mumbai. The Governor, of RBI inaugurated the Conference. ‘Governance in Banks - Driving Sustainable Growth and Stability’ was the theme of the conference. Deputy Governors Shri M. K. Jain and Shri M. Rajeshwar Rao, along with Executive Directors representing the RBI’s Department of Supervision, Department of Regulation and Enforcement Department, and other senior officials, also participated in the Conference.

The Governor acknowledged the role played by the banks in supporting the economy and maintaining resilience along with improved financial performance in the face of several adverse shocks in recent times.

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He exhorted the Directors of banks to further strengthen the governance and assurance functions (risk management, compliance and internal audit) so that the banks are able to identify and mitigate risks at an early stage. The Governor also emphasized the need for banks to ensure continued financial and operational resilience.

The Conference included addresses by the Deputy Governors and technical sessions on Governance and Assurance Functions, Credit Risk, Operational Risk, IT/Cyber Risk and Data Analytics.

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The Conference concluded with an open house interaction of the participants with the Executive Directors of the Reserve Bank.

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