RBI Mandates Two Whole-Time Directors for Indian Banks’ Boards
The Reserve Bank of India (RBI) has mandated that Indian banks must now include a minimum of two whole-time directors (WTDs) on their boards, including the managing director and chief executive officer (MD and CEO).
RBI’s Move Against BoB Prompts Other Banks to Tighten Digital Security
The Reserve Bank of India (RBI) recently took strong action against the Bank of Baroda (BoB) by blocking it from adding new customers via its digital app.
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).
RBI Enlists McKinsey and Accenture to Enhance Oversight Using AI and Machine Learning
In a strategic move towards bolstering its supervisory functions, the Reserve Bank of India (RBI) has partnered with renowned consultancy firms, McKinsey and Company India, along with Accenture Solutions India.
RBI governor advises banks to prioritise governance
The RBI governor, Shaktikanta Das, has urged banks to tighten up on governance standards and pay close attention to the compliance, risk management, and auditing processes.
Isha Ambani joins the Board of Reliance Strategic Investments Ltd
Reliance Industries Ltd has appointed Isha Ambani Piramal as Non-Executive Director of its demerged financial services unit Reliance Strategic Investments Ltd (RSIL).
RBI Approves Federal Bank’s Appointment of AP Hota as Part-Time Chairman
The Federal Bank has announced that AP Hota has been approved by the Reserve Bank of India (RBI) to serve as the part-time chairman of the private sector bank. In a regulatory filing, the bank stated that the RBI granted its approval on June 26, 2023.
The RBI sends MD of PFS on indefinite leave
The RBI has ordered the MD of PTC India Financial Services the banking arm of PTC India to be placed on permanent leave till his retirement in October.
Partha Pratim Sengupta Joins Unity Bank as BharatPe’s Nominee Director
BharatPe, a leading fintech firm, has announced the appointment of Partha Pratim Sengupta as the nominee Director on the Board of Unity Small Finance Bank, where BharatPe and Centrum Financial Services hold stakes.
RBI Deputy Governor Calls for Tighter Regulatory Oversight of Financial Institutions
MK Jain, the Deputy Governor of the Reserve Bank of India (RBI), has called for tighter regulatory oversight of financial institutions, emphasizing the need for a thorough examination of their business models.
