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Business

RBI Guv says gaps noticed in banks' governance

IANS | May 29, 2023 05:25 PM

NEW DELHI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday said the central bank has noticed gaps in the governance of some banks, even though it has issued guidelines for the same.

"It is necessary that boards and managements do not allow such gaps to creep in, " Das said at a conference of banks' directors organised by the RBI in Mumbai.

The event was organised for private sector lenders by the apex bank.

"While these gaps have been mitigated, it is necessary that boards and the managements do not allow such gaps to creep in, " Das said in his speech.

The RBI governor further said that it is the joint responsibility of the chairmen of the banks' board and the directors to ensure robust governance.

He added that it is important that the directors should keep themselves updated with the bank's internal environment as well as the external factors that impact their functioning.

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