India Business News: MUMBAI: RBI governor Shaktikanta Das on Wednesday asked the fintech sector to establish a self-regulatory organisation (SRO) within a year to reduce t.
Deputy Governor Jain was looking after departments of Co-ordination, Central Security Cell, Consumer Education and Protection Department, Department of Supervision, Financial Inclusion and Development Department, and Human Resource Management.
Jain who is incharge of the supervision, financial inclusion and consumer protection departments among others at the RBI said corporate governance is invariably the root cause of supervisory concerns. Supervisors must closely examine the business models adopted by banks and meticulously assess whether these models align with the institutions risk appetite, he said.
He also said that the supervisors need to examine IT issues holistically to determine whether banks have the capacity to develop robust IT systems that align with their business strategies
Five candidates including a non-executive chairman of a public sector bank have been shortlisted for the post to be interviewed by the Financial Sector Regulatory Appointment Search Committee (FSRASC) headed by Cabinet Secretary in Delhi.
, , deputy governor, reserve bank of india, appointment, M K Jain