RBI Governor Sanjay Malhotra Urges UCBs to Strengthen Operational Resilience

RBI Governor Sanjay Malhotra laid stress on making urban cooperative banks (UCBs) aware of their role, especially that of maintaining trust among depositors. Addressing UCB stakeholders in a meeting, Malhotra pointed out the serious role played by UCBs in financial inclusion and appealed to them to be more resilient in operations against IT and cyber threats. He also laid emphasis on maintaining high customer service standards for trust building. The RBI will keep facilitating the growth of UCBs while ensuring they remain creditworthy. The meeting had industry body representatives such as NUCFDC and NAFCUB, and was a part of the RBI's engagement series with regulated entities.

 

Sources: Economic Times, Business Standard