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On Thursday, Reserve Bank of India (RBI) Governor Shaktikanta Das emphasized that while growth is essential for banks and non-banking finance companies (NBFCs), it must not come at the cost of taking “unacceptable risks.” Speaking at the Global Conference on Financial Resilience organized by the College of Supervisors in Mumbai, Das underscored the necessity for robust risk mitigation frameworks.
Das highlighted that business models aiming for profitability and growth often harbour hidden vulnerabilities. He stressed that both regulated entities and supervisors need to stay vigilant to these risks. “Pursuit of business growth is important, but it should never come at the expense of taking on unacceptable risks,” he reiterated.
According to Das, strong risk mitigation ensures the long-term success and resilience of financial entities and the overall financial system. The RBI, he noted, places significant emphasis on governance within regulated entities and has, at times, imposed business restrictions due to “material supervisory” concerns.
This story is from the June 21, 2024 edition of The Business Guardian.
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This story is from the June 21, 2024 edition of The Business Guardian.
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