These remarks were made by RBI deputy governor Jain at the Conference of Directors of Banks, organised by the RBI for public sector banks on May 22 in New Delhi. He also addressed private sector banks on May 29 in Mumbai.
The Reserve Bank of India has come across gaps in corporate governance for certain banks and such gaps have the potential to cause volatility in the overall banking sector, said its governor Shaktikanta Das.
Acknowledging the key role played by the banks, the RBI Governor said, "Over the years and especially in the recent period, banks have been able to maintain financial and operational resilience in the face of extreme stress originating from the COVID-19 pandemic, the continuing war in Europe
The conference was held in New Delhi on Monday. The RBI Governor Shaktikanta Das inaugurated the conference. 'Governance in Banks - Driving Sustainable Growth and Stability' was the theme of the conference.
The progress of the Kisan Credit Cards (KCC) scheme was also discussed in the meeting with a special focus on the issuance of KCC for animal husbandry and fisheries
As a step towards getting scale, the secretary will also be taking a meeting with the heads of all Public Sector Banks on Thursday to ensure that the campaign reaches to a maximum number of eligible beneficiaries.
The Congress MP demanded a discussion on "the issue of investment by LIC, Public Sector Banks and financial institutions in companies losing market value, endangering the hard-earned savings of crores of Indians."
It is being argued by the opposition parties that the investment of the Adani group in public sector banks such as the SBI and LIC has had a big impact on the savings of the middle class.
Besides reviewing the progress under the social security schemes promoting financial inclusion, public sector banks were exhorted to achieve the targets allocated to them under the schemes for the 2022-23, according to a statement from the ministry of finance.
Manipal (Karnataka) [India], October 21 (ANI/PRNewswire): MCT Cards & Technology Private Limited (MCT), a subsidiary of Manipal Technologies Limited, delivered smart banking kiosks to leading private and public sector banks in India under the recent '75 Digital Banking Units in 75 Distri