RBI’s Das addresses board members of PSU banks on governance, ethics

Reserve Bank Governor Shaktikanta Das on Monday met the board of directors of all public sector banks to discuss issues related to governance and ethics.

Reserve Bank Governor Shaktikanta Das on Monday met the board of directors of all public sector banks to discuss issues related to governance and ethics.

The one-day interactive meeting was organised by the Department of Supervision of the Reserve Bank of India.

Mr. Das addressed the directors -- both whole time and independent -- on issues related to governance, ethics and the role of the boards in assurance functionalities of the banks, besides highlighting the supervisory expectations, sources said.

Besides the governor, deputy governors, and executive directors from the Department of Regulation as well as Supervision also spoke at the meeting.

During the event, directors, including the bank chairman, and nominee directors both from the central bank and the government were invited to interact with the entire RBI top brass.

The government on the recommendation of the Reserve Bank introduced many reforms in governance and provided more autonomy to the board of public sector banks in recent times.

The reforms also include an independent professional body for selection, objective and transparent selection and allotment on the basis of merit-cum-performance.