Business
Apt time to address governance gaps in banks, says RBI deputy governor

New Delhi, June 5
Time is perhaps right to address gaps in governance frameworks of banks, a top RBI official has said, amid reports of lapses by various banks, which have invited action by the central bank.
"The banking sector in India at this juncture is sound, resilient, and financially healthy. So, the time is perhaps right to improve the plumbing by addressing the gaps in governance frameworks, assurance functions and strategise for better times ahead," RBI's deputy governor Rajeshwar Rao said.
He was addressing the conference of directors of banks organised by the RBI for public sector banks, recently.
Rao's comments have come just days after RBI governor Shaktikanta Das had said that the central bank had found some gaps in banks' corporate governance despite issuing guidelines on the matter.
He had advised that banks' boards and management should not allow such gaps to creep in.
These views by the central bank's top brass have come when quite a few governance lapses have been reported by various banks, attracting action by the RBI.
Rao further said in his address that bank boards often do not pay attention to matters related to conduct.
Pointing out that customer service, customer conduct and ethical employee behaviour are key in banks, Rao said banks' boards should pay close attention to these aspects.
"Good or rather best practices in these areas are the key soft pillars which build the edifice of a successful financial institution, more so in these challenging times," he said.

11 minutes ago
Ananya Panday: I’ve grown into a version of myself who’s not afraid to try

12 minutes ago
Grateful for the love, say makers of Mahesh Babu's 'Maharishi' as film completes six years!

12 minutes ago
Actress Aishwarya Raj recounts her firsthand experience of witnessing a drone attack in Jaisalmer

13 minutes ago
Arvind Swami opens up about playing Major Srinivasan in ‘Tanvi The Great’

13 minutes ago
Mohanlal’s son Pranav’s horror film christened as ‘Dies Irae’

15 minutes ago
Audio launch of Mani Ratnam's Thug Life postponed; Kamal says, 'Art can wait, India comes first.'

25 minutes ago
Pak propaganda alert: Sukhoi shot down, pilot captured; PIB says 2014 image of crash

25 minutes ago
Security tightened at Tirumala temple in view of rising India-Pak tensions

26 minutes ago
Defence Minister reviews 'Operation Sindoor', ongoing situation with military chiefs

27 minutes ago
Karnataka: Medical student booked for 'pro-Pakistan' post on social media

27 minutes ago
Seven Gujarat airports closed to civil flights amid rising tensions

28 minutes ago
High alert in Rajasthan: Leaves of police, medical staff cancelled; blackouts in border areas

50 minutes ago
India-Pak tension: Kerala opens control rooms for Malayalees