RBI top brass to meet public sector bank boards on governance on May 22

The Reserve Bank of India has convened a meeting with the board of directors of all public sector banks on May 22 in New Delhi to discuss issues related to governance and ethics and to highlight its "supervisory expectations".

The central bank governor Shaktikanta Das will address the directors -- both whole time and independent -- to set the agenda of the day-long meeting.

He will primarily focus on "issues related to governance, ethics, role of the boards in assurance functionalities of the banks besides highlighting the supervisory expectations", according to a communication from RBI's Department of Supervision.

ET reviewed a copy of the RBI letter.

RBI deputy governors and executive directors from the Department of Supervision, Department of Regulation and the Enforcement Department will be present at the event.

The one-day event is designed to be an interactive one where directors, including bank chairman, and nominee directors both from the central bank and the government, will be invited to interact with the entire RBI top brass.

This comes close on the heels of finance minister Nirmala Sitharaman's call for improving bank governance and enhancing investors’ protection.

In the union budget for FY24, the minister proposed certain amendments to the Banking Regulation Act, the Banking Companies Act and the Reserve Bank of India Act towards this end.