Follow KYC guidelines or face regulatory action: RBI deputy governor to banks

Quick Summary:

The RBI Deputy Governor, Swaminathan J, said bank boards should work towards building customer-centric banks where every individual, regardless of age, income, or background, feels valued and respected.

He also said while traditional governance responsibilities such as financial oversight and risk management will continue to remain top priorities, going ahead, boards need to embrace technology, drive digital transformations, adopt customer centricity, and ensure ethical leadership.

More so when it comes to treating customers fairly and in a transparent manner, he said.

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Article Details

Author / Journalist: Press Trust of India

Category: StartupsEconomyBusiness

Markets: IndiaMali

Topics: Privacy Bank Regulatory Governor Swaminathan Deputy Service Banks Guidelines Boards Policy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-20 @ 07:30:50 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 282 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © YourStory

News ID: 23716466

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Main Topics: StartupsEconomyBusiness

Official Website: yourstory.com

Update Frequency: 10 posts per day

Year Established: 2008

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News Last Updated: 9 hours ago

Coverage Areas: India

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