Financial institutions should be board-driven: RBI Dy Guv Jain


Team Udayavani, Mar 29, 2022, 4:09 PM IST

Mumbai: Financial institutions should be board-driven and not end up being dominated by individuals as it could lead to undesirable consequences, Reserve Bank Deputy Governor M K Jain has said.

In his keynote address at CAFRAL, a Centre promoted by RBI, he stressed that an efficient and vibrant financial system is crucial for the economic development and social wellbeing of the country.

”The governance framework surrounding the individual players in the financial system assumes a central role not only in terms of value creation for various stakeholders but also in ensuring the oversight of the board on risk appetite and risk culture of individual institution,” he said while speaking on ‘Importance of Governance and Assurance Functions in Financial Institutions’.

He also emphasized that financial institutions should be board-driven and not dominated by individuals.

”It is important to ensure that financial institutions are board-driven and do not end up being dominated by individuals. Experience has shown that this leads to undesirable consequences,” Jain said.

The board members, he said, should focus on strategic and important matters and work in a cohesive manner.

Many times, he added, a large number of agenda items are included, including table items, which do not allow for proper evaluation of the proposals.

The Centre for Advanced Financial Research and Learning (CAFRAL) is an independent body set up by RBI against the backdrop of the country’s evolving role in the global economy.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Six held for banner prohibiting entry of BJP workers to police station

Fresh plea in SC challenges validity of sections of Places of Worship Act, 1991

Vijay Babu’s “Home” snubbed at Kerala State Film Awards, sparks row

Hijab row: Everyone should abide by HC and govt order, says Karnataka CM

PSI recruitment scam: CID arrests close aide of key conspirator

Hyderabad: Teenage boy hospitalised after trying to recreate iconic smoking scene from KGF 2

PM Modi made India strong, cannot be compared with Nehru: Bommai


Related Articles More

Adani Defence & Aerospace to buy 50 pc stake in agri drone startup General Aeronautics

BookMyShow sees rush of users post-Covid wave with highest-ever ticket bookings

GAIL says no disruption in Russian LNG supplies due to sanctions

Banks need to support growth, remain watchful of slippages: RBI report

Service charge imposed by restaurants not illegal: FHRAI

MUST WATCH

This country is ruined by Nehru : Basangouda Patil Yatnal

NEWS BULLETIN 26-05-2022

Dr. Surendra Kumar Jain atatement about malali masjid

Anjaneeya swamy Temple Mysore

Manipal Road Mishap Student end his Life


Latest Additions

Six held for banner prohibiting entry of BJP workers to police station

Fresh plea in SC challenges validity of sections of Places of Worship Act, 1991

Vijay Babu’s “Home” snubbed at Kerala State Film Awards, sparks row

By transferring IAS couple over stadium misuse, Centre gave strong message, but Delhi govt failed to act: Thakur

Hijab row: Everyone should abide by HC and govt order, says Karnataka CM

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.