RBI governor to address board members of PSU banks on governance and ethics on Monday – Times of India

NEW DELHI: Reserve Bank governor Shaktikanta Das is scheduled to meet the board of directors of all public sector banks on Monday to discuss issues related to governance and ethics. The one-day meeting organised by the Department of Supervision of the Reserve Bank of India is to be held tomorrow in Delhi, sources said.
Das will address the directors — both whole time and independent — on issues related to governance, ethics, and the role of the boards in assurance functionalities of the banks, besides highlighting the supervisory expectations.
Besides the governor, deputy governors, executive directors from its Department of Regulation as well as Supervision will be addressing the meeting.
The one-day event is designed to be an interactive one where directors, including the bank chairman, and nominee directors both from the central bank and the government, will be invited to interact with the entire RBI top brass.
The government on the recommendation of the Reserve Bank introduced many reforms in governance and provided more autonomy to the board of public sector banks in recent times.
The reforms also include an independent professional body for selection, objective and transparent selection and allotment on the basis of merit-cum-performance.
For the appointment of whole-time directors in public sector banks and financial institutions, the government in 2016 set up Banks Board Bureau (BBB), which was transformed into Financial Services Institutions Bureau (FSIB) last year.