Page 9 - Rbi Governor

Need to avoid dominance of 1-2 directors on boards: RBI Governor Das

Das asserted that directors in UCBs, who are elected to their positions, must possess expertise in diverse banking functions, including risk management and information technology

RBI not comfortable with NPAs in UCBs, asks lenders to focus on governance

RBI Governor Shaktikanta Das on Monday said the central bank is "not comfortable" with the gross non-performing assets ratio of 8.7 per cent in urban cooperative banks (UCBs) and asked them to work towards improving the same. Addressing directors of UCBs in the financial capital at an RBI-organised conference, Das urged that such lenders should improve the governance standards, avoid related-party transactions and focus on credit risks, among others. It can be noted that the UCB sector has been fraught with multiple challenges and also witnessed difficult times in the recent past, like the implosion of the city-headquartered Punjab and Maharashtra Bank. Das reminded the directors of the UCBs that banks run on depositors and added that protection of the hard-earned money pooled in from the middle class, poor and retirees is far more sacred than going to a temple or a gurdwara. While the overall picture at an aggregate level looks nice, the situation on GNPAs and capital adequacy is

Combatting cybercrime key element in nurturing trust: RBI Dy governor

The Deputy Governor held a meeting with heads of the Customer Service Committee of the Board, managing directors, executive directors in charge of customer service verticals

Top headlines: Delhi gears up for G20 Summit, Biden set to travel India

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Fintech companies need to set up self-regulatory body: RBI governor

He cautioned the fintechs that they should not get carried away with valuations and revenue but need to focus on customer satisfaction

RBI Governor urges fintech players to set up self regulatory organisation

Reserve Bank of India Governor Shaktikanta Das on Wednesday urged fintech players to set up a Self Regulatory Organisation (SRO) at the earliest for an orderly growth of the industry. "Fintech players need to evolve industry best practices, privacy and data protection norms in sync with the law of the land," he said, adding that they can also set standards on issues like misselling, promoting ethical business practices and transparency in pricing. Speaking at the Global Fintech Fest here, Das said that good governance will be key to durable and long term success of any company, and in particular, the fintech players. As per projections, the fintech sector revenues are set to touch USD 200 billion by 2030, he added.

Inflation expected to moderate from September: RBI governor Shaktikanta Das

He said the monetary policy framework in India had evolved in line with developments in theory and country practices, the changing nature of the economy, and developments in financial markets

RBI governor rated A+ in global finance central banker report cards 2023

The Central Banker Report Cards, an annual publication by Global Finance since 1994, assess and grade the performance of central bank governors

FSDC-SC resolves to remain vigilant against external vulnerabilities

RBI Governor Shaktikanta Das-headed Sub-Committee of the Financial Stability and Development Council (FSDC-SC) on Monday resolved to remain vigilant against any build-up in vulnerabilities in the financial system as well as in the broader economy amid uncertain global environment. With a view to strengthening and institutionalising the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development, the FSDC was set up by the government as the apex level forum in December 2010. The FSDC Sub-Committee has been set up under the chairmanship of governor, RBI. It meets more often than the full Council. The Sub-Committee reviewed major global and domestic macroeconomic and financial developments, issues of inter-regulatory coordination relating to the Indian financial sector activities of various technical groups under its purview, the Reserve Bank said in a statement on 30th Meeting of the FSDC Sub-Committee. It also ...

UPI can play vital role as a global public asset: RBI Governor Das

RBI governor asks private sector to engage in provision of global public goods

Sensex ends 308 pts lower post RBI policy, Nifty near 19,550; Zee zooms 20%

CLOSING BELL ON AUGUST 10, 2023: Private bank and select auto stocks ended with notable losses after the RBI on Thursday asked banks to maintain Incremental Cash Reserve Ratio (ICRR) at 10 per cent.

RBI press conference LIVE: Currency circulation will pick up soon, says Guv

RBI MPC Meeting Live Updates: Governor Shaktikanta Das begins policy statement, catch all the latest updates here

Banks to begin reporting on new data warehouse CIMS: RBI Governor Das

Reserve Bank Governor Shaktikanta Das on Friday said commercial banks will first begin reporting on the central bank's latest next-generation data warehouse, the Centralised Information Management System' (CIMS), followed by urban cooperative banks and non-banking financial companies. Das was addressing the 17th statistics day conference at the RBI headquarters, which also marks the birth anniversary of Prof Prasanta Chandra Mahalanobis--the best-known mind in the field. Launching the new system he said the latest CIMS, which is the central bank's next-generation data warehouse, is starting with reporting by commercial banks which will be gradually extended to urban cooperative banks (UCBs) and non-banking financial companies (NBFCs). Das also said incidentally, with the CIMS going live, the first weekly statistical supplement, which is the RBIs weekly data release on its own operations and on developments in banking and financial markets, was compiled and processed in the CIMS for

The new world of public interest directors

In his twin interactions with bank boards, RBI governor did not ask them to maximise profits or shareholder value. He instead urged them to prioritise the stability and growth of the financial system

Top headlines: Go First lenders approve $55 mn infusion, Vi turnaround soon

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RBI to engage external managers for very small part of FX reserves: Das

CBDC going to be future of money: RBI guv

RBI deputy governor Swaminathan Janakiraman gets supervision department

Swaminathan, a former managing director of State Bank of India, replaced M.K. Jain whose term ended on Jun 21

'RBI need not rush to ease rates unless certain of stable-low inflation'

Bhide's comments echo that of Governor Shaktikanta Das that a pivot can be considered when price-gains settle near the mid-point of its 2%-6% range on a durable basis

Govt appoints SBI MD Janakiraman as RBI deputy governor with 3-year tenure

First SBI MD to helm for the post in more than 20 years

Telangana High Court issues notice to RBI Governor in Mahesh Bank case

Directing that senior bank officials be consulted for policy decisions, the court said the move is to protect the interests of shareholders and to run daily operations