RBI Governor Shaktikanta Das asks banks to be extra vigilant in view of various adverse global development

Mumbai: Reserve Bank of India's Governor Shaktikanta Das has asked banks to be extra careful and vigilant in view of various adverse global developments. Governor today held meetings with the MD & CEOs of public and select private sector banks in Mumbai.

In introductory remarks, the Governor noted the good performance of the Indian banking system despite various adverse global developments and stressed that banks need to be extra careful and vigilant.

As per RBI statement, The Governor also emphasized the need for MD&CEOs to pay special attention to strengthening the



governance in the banks and focus on the tripod of banking stability consisting of compliance, risk management, and audit functions.

The issues relating to strengthening of credit underwriting standards, monitoring of large exposures, improving recovery from written-off accounts, and timely and accurate sharing of information with Credit Information Companies were discussed in meetings.

The meetings were also attended by Deputy Governors M. Rajeshwar Rao and Shri Swaminathan J., along with a few senior officials of the RBI.