RBI governor instructed all the banks of the country to be careful and cautious, know what is the reason

Das in his opening remarks referred to the good performance of the Indian banking system despite various adverse global developments and stressed that banks need to be extra careful and cautious in such times, the RBI said in a statement. The meeting was also attended by Deputy Governors M Rajeswara Rao and J Swaminathan along with some senior RBI officials.

Jul 11, 2023 - 20:43
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RBI governor instructed all the banks of the country to be careful and cautious, know what is the reason

Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday asked banks to be extra careful and cautious in view of adverse global developments while strengthening corporate governance. The governor of the central bank said this in a meeting with MDs and CEOs of public sector banks and select private sector banks. What is the complete news about this, let us know.
In his opening remarks, Das noted the good performance of the Indian banking system despite various adverse global developments and stressed that banks need to be extra careful and vigilant in such times, the RBI said in a statement. It added, "The governor also emphasized the need for the MDs and CEOs to strengthen governance in banks and pay special attention to the tripod of banking stability consisting of compliance, risk management, and audit functions."
The meeting discussed strengthening credit underwriting standards, monitoring large exposures, implementation of External Benchmark Linked Rate (EBLR) guidelines, strengthening IT security and IT governance, improving recovery from written-off accounts, and credit recovery. Issues related to timely and accurate information sharing as well as information companies were also discussed. The meeting was attended by Deputy Governors M Rajeswara Rao and J Swaminathan along with some senior RBI officials.

Muskan Kumawat Journalist & Writer