RBI governor Shaktikanta Das has highlighted in a speech the critical importance of robust governance for Urban Co-operative Banks and the role of the Board of Directors to ensure the same. He also emphasised the importance of assurance functions (viz. Compliance, Risk Management and Internal Audit) in upholding good governance. He urged Boards of UCBs to ensure proper credit underwriting standards, review and follow up on recovery of non-performing assets as well as prudently manage liquidity risk. Das also touched upon aspects of capacity building, especially with respect to IT and cyber security.
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