Satish Marathe firmly believes that this process would enhance credibility and inspire confidence among the depositors
The Reserve Bank of India has recently framed new guidelines on the appointment of managing director / whole-time director for urban cooperative banks. It has said the managing director of a UCB shall function under the overall general superintendence, direction and control of the Board of Directors of the bank. The UCBs shall ensure that the MD/ Whole-Time Director shall be a graduate, preferably with qualification in banking / cooperative banking such as CAIIB / diploma in banking and finance/diploma in cooperative business management or equivalent qualification, or Chartered / Cost Accountant / MBA (Finance), or post-graduation in any discipline. A circular issued by the central bank in this regard specifically state that, the MD/ CEO shall not be holding the position of a member of Parliament or state legislature or municipal corporation or municipality or other local bodies.
RBI has also decided that all UCBs having asset size of ₹50 billion or above, shall appoint a Chief Risk Officer (CRO) by 31 March 2022 and set up a Risk Management Committee of the Board. The Board must clearly define the CRO’s role and responsibilities and ensure that he/she functions independently. The CRO shall have adequate professional qualification/experience in the area of risk management. In case the CRO reports to the MD/CEO, the Board or the RMC shall meet the CRO, without the presence of the MD & CEO, at least on a quarterly basis. Further, there shall not be any ‘dual hatting’ for CRO. RBI has also laid a number of other specifications in a couple of latest circulars to the UCBs.
Denne historien er fra July 2021-utgaven av Banking Frontiers.
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Denne historien er fra July 2021-utgaven av Banking Frontiers.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Swedbank leverages data to the hilt
Sweden's Swedbank takes innovation to a different level by collaborating with other competing banks:
Digitization is for customer satisfaction, says Argenta Bank
Belgium's Argenta Bank has designed its digitization efforts to enhance customer experience:
Speed, Safety, Compliance
Brijesh Samantaray, Co-founder, Propelld shares the current trends in the education loans how the company is leveraging technology:
Unique methods in fraud perpetration
When we look at some of the very serious frauds that had taken place in the financial realm, it is evident that the perpetrators are somewhat ingenious:
NBFCs: Elevating Organizational IQ
What is more important than hiring smart people is raising organizational IQ. This topic was discussed in depth in a panel discussion at NBFC's Tomorrow conclave organized by Banking Frontiers. Edited excerpts:
Trustful Transformation
Transformation is no longer only about growth & efficiency. It involves aspects like compliance, security and explainability that are impacting NBFCs. These issues are explored in this panel at NBFC's Tomorrow:
CEO Panel: Connecting Traditional Wisdom with Modern Intelligence
Banking Frontiers organized its annual NBFC Conclave titled NBFC's Tomorrow in August 2024 at Mumbai. Highlights of the first panel discussion:
NBFCs EXPERIENTIAL EVOLUTION, TRUSTWORTHY TRANSFORMATION
Banking Frontiers organized NBFC's Tomorrow, its annual NBFC Conclave, in Mumbai on August 21. The program comprised panel discussions on 5 upcoming opportunities for the NBFC sector, along with presentations, fireside chats and a keynote address. Edited excerpts from the conclave:
Smart ATMs - an indication of a resurgence
Smart ATMs can be the future way of how one may be interacting with a bank and doing transactions:
Personalization scores with HNWI & YP
Ghulam Haidar Rasooli, Chief Financial Officer at Afghanistan based Ghazanfar Bank, reveals the impact of personalization and future roadmap:
