RBI hosts capacity building programme for Coop banks

The Reserve Bank of India (RBI), Shimla Regional Office, organised a one-day capacity building programme at Dalhousie for the Boards of Directors (BoDs) and Chief Executive Officers (CEOs) of Urban Cooperative Banks (UCBs) operating in Himachal Pradesh. The event was aimed at strengthening governance, enhancing supervisory compliance, and promoting sound banking practices in the cooperative sector. Anupam Kishore, Regional Director, RBI Shimla, inaugurated the event.

Engaging directly with participating BoDs and CEOs, Kishore highlighted the critical role played by UCBs in advancing financial inclusion, particularly in the remote and underserved areas of the state. He emphasised the sector’s contribution to empowering local communities and facilitating access to essential financial services.

While appreciating the contribution of UCBs, Shri Kishore also raised concern over the rising instances of fraud within the cooperative banking sector in Himachal. Citing recent developments, he stressed the urgent need for robust internal controls, advanced cyber security infrastructure, and vigilant governance mechanisms to safeguard depositors’’ interests and uphold public trust.

Underscoring the significance of such capacity building initiatives, Kishore noted their role in equipping cooperative bank leadership with the necessary knowledge, skills and awareness of evolving regulatory expectations and technological risks.

Himachal Tribune