RBI Deputy Governor Urges Small Finance Banks to Be Proactive in Risk Management
RBI Deputy Governor Urges Small Finance Banks to Be Proactive in Risk Management
Reserve Bank of India Deputy Governor Swaminathan J has called on directors of small finance banks (SFBs) to adopt a vigilant and proactive approach in identifying emerging risks within the sector. Speaking at a conference for SFB board members, Swaminathan underscored the critical role of governance in steering SFBs toward sustainable growth and stability.
He emphasized the importance of developing sustainable business models and highlighted the need for enhanced cybersecurity measures to protect against digital threats. Additionally, he urged SFBs to focus on financial inclusion, customer service, and grievance redressal to expand their reach in providing banking services.
The conference also featured Executive Directors S C Murmu, Rohit Jain, and R L K Rao, along with other senior officials from the RBI’s Supervision, Regulation, and Enforcement Departments.
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