RBI Deputy Governor highlights critical role played by UCBs in providing banking services

The Reserve Bank of India (RBI) held a Conference of Chairmen, Managing Director/CEOs and Directors of select UCBs of Northern Zone at Lucknow, on April 06, 2024. The theme of the Conference was Governance in UCBs: Risk Management, Compliance and Audit. The Conference was addressed by Deputy Governor M Rajeshwar Rao, Executive Director Rohit Jain, and other senior RBI officials. Deputy Governor Rao in his keynote address highlighted the critical role played by UCBs in providing banking services, especially to the unbanked. He emphasized the importance of a robust and comprehensive risk management framework in ensuring sound banking operations. He further stressed upon the need for effective governance, the importance of internal audit function in early detection of irregularities and the need for leveraging technology.

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