With a view to identify and mitigate risks at an early stage, Reserve Bank of India (RBI) Governor Shaktikanta Das has asked public sector banks to further strengthen their governance and risk management. Das also emphasised the need for banks to ensure continued financial and operational resilience.
The central bank in a statement said Das acknowledged the role played by the banks in supporting the economy and maintaining resilience along with improved financial performance in the face of several adverse shocks in recent times.
It stated ‘He (Das) exhorted the directors of banks to further strengthen the governance and assurance functions (risk management, compliance and internal audit) so that the banks are able to identify and mitigate risks at an early stage.’
