While such practices may yield short-term gains, they ultimately expose the bank to significant long-term risks, including reputational damage, supervisory scrutiny, and financial penalties,” he said.
Speaking at the conference of directors of private sector banks, Das said, “Boards must move beyond traditional oversight roles and embrace agility, foster innovation, and ensure sustainability and adaptability to today’s dynamic environment.
Meanwhile, he also appreciated the bank boards to help maintain resilience of the banking sector but also cautioned them that the strong fundamentals of the sector should be leveraged to reinforce and fortify the defences.“Good times, after all, are the best times to reinforce resilience and grow sustainably,” Das said.
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