RBI's Call to Action for Cooperative Banks

In a significant move to safeguard the banking sector, the Reserve Bank of India (RBI) has issued a directive to cooperative banks, emphasizing the need to maintain depositor trust and enhance resilience against operational risks, particularly cyber threats. RBI Governor Sanjay Malhotra convened a crucial meeting with top executives from select urban cooperative banks (UCBs) across various regions. The assembly also saw participation from key industry bodies, including the National Urban Cooperative Finance and Development Corporation and the National Federation of Urban Cooperative Banks & Credit Societies. This initiative is part of RBI's ongoing efforts to engage with and regulate its entities effectively.

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