Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday asked the boards of urban cooperative banks (UCBs) to strengthen financial and operational resilience to ensure overall financial and banking sector stability. He also urged them to further strengthen governance practices at UCB, especially the three supporting pillars of compliance, risk management, and internal audit.
Das met the directors on the boards of tier 3 and 4 UCBs in Mumbai Zone on Wednesday. In May, he met the directors of state-run and private sector lenders. He appreciated UCBs improved financial performance at an aggregate level in recent times, but said that concerns and vulnerabilities are seen for certain individual entities.
This story is subscriber only!
Now subscribe at a special Republic Day offer of Rs 75/month.
Subscribe Now
Already a subscriber? Sign in