MUMBAI: In the face of evolving financial and digital risks, Reserve Bank of India (RBI) Deputy Governor Swaminathan J has called on Small Finance Banks (SFBs) to step up their vigilance and proactively address emerging threats.
Speaking at an RBI-organised conference for SFB directors in Bengaluru, Swaminathan underscored the critical role of governance in ensuring the sector’s sustainable growth.
“He urged directors to be vigilant and proactive in identifying and mitigating emerging risks, while highlighting the need for sustainable business models,” an official statement said. Strengthening cyber-security, a pressing concern in today’s increasingly digital banking landscape, was also emphasised by the Deputy Governor.
Financial inclusion
Swaminathan further stressed the importance of financial inclusion, customer service, and grievance redressal, positioning these as key pillars for future growth. The conference, themed ‘Governance in SFBs – Driving Sustainable Growth and Stability,’ is part of the central bank’s ongoing supervisory initiatives with financial institutions.
RBI’s Executive Directors SC Murmu, Rohit Jain, and RLK Rao, along with senior officials from regulatory and supervisory departments, participated in the event, which featured technical sessions on governance, business risk, and cybersecurity. The conference concluded with an interactive session between directors and RBI executives.
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