Shaktikanta Das asks the directors of the co-op banks to focus on controlling risks

In the Mumbai region, the RBI hosted a symposium for the directors of tier-3 and tier-4 urban cooperative banks (UCBs). This is a part of the regulator’s initiative to engage directors as well as management in order to improve governance in banks. The RBI has begun communicating with the directors of the organisations it regulates that operate in various facets of the financial system. In May 2023, there were two meetings with the directors of the boards of public and private banks. Shaktikanta Das, governor of the RBI, noted that although UCBs as a whole have recently demonstrated improved financial performance, there are concerns regarding certain institutions. He emphasised that in order to maintain the stability of the entire banking system, UCBs must increase their financial and operational strength.