RBI Deputy Governor Stresses Vigilance and Risk Mitigation at SFB Conference

Reserve Bank Deputy Governor Swaminathan J emphasized the need for vigilance and risk mitigation at Small Finance Banks (SFBs) to ensure sustainable growth. Speaking at an RBI-organized conference in Bengaluru, he also stressed the importance of strong governance, cybersecurity, financial inclusion, and customer service. RBI executives discussed various supervisory aspects during the event.

Reserve Bank Deputy Governor Swaminathan J on Friday urged Small Finance Banks (SFBs) to remain vigilant and proactively mitigate risks to ensure sustainable growth. Delivering the keynote at an RBI-organized conference of SFB directors in Bengaluru, he underscored the pivotal role of governance in steering SFBs toward stability.

Swaminathan accentuated the necessity of bolstering cybersecurity measures against digital threats. He also called for an intensified focus on financial inclusion, improved customer service, and effective grievance redressal mechanisms, according to an official statement.

The conference themed 'Governance in SFBs - Driving Sustainable Growth and Stability,' featured input from RBI's Executive Directors SC Murmu, Rohit Jain, and RLK Rao. Sessions addressed 'Governance and Assurance Functions,' 'Business Risk Regulatory and Supervisory Expectations,' and 'IT Systems and Cybersecurity,' concluding with an interactive segment with RBI executives.

(With inputs from agencies.)