RBI added that the number of Whole Time Directors shall be decided by the Board of the bank by taking into account factors such as the size of operations, business complexity, and other relevant aspects.
RBI issues new guidelines for fair lending practices deccanchronicle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from deccanchronicle.com Daily Mail and Mail on Sunday newspapers.
The RBI, the extended arm of the government, which licenses the banks, has full responsibility to ensure full protection to bank deposits. The government therefore needs to regulate fully and protect all deposits in all banks because the deposits belong to the depositing public no matter whether the bank is privately owned, governmentowned, or a cooperative
Scams are a product of greed and immorality. However, abuse of the financial system has been made possible because of the system's weaknesses. In an age which heralds technology as the silver bullet, we should not overlook the most critical source of competitive advantage - the people. Compliance and controls are dependent on the people running it. The most agile auditors will struggle to stop managers determined to hide their dirty laundry from view