RBI invites board of directors of banks to address governance and ethics issues, first meeting today

The Reserve Bank of India has invited the board of directors of public and private sector banks to a conference next month to address issues around governance and ethics. This is a first of its kind such meeting, where RBI Governor Shaktikanta Das will address the entire boards of banks in an in-person meeting, which is scheduled to be held in two batches, on May 22 and May 29.

As per the invite shared with banks, which CNBC-TV18 accessed last month, the Governor will address boards on matters pertaining to governance, ethics, role of boards with respect to functionalities of banks, as well as set RBI’s expectations on the supervisory front.

Bankers CNBC-TV18 spoke to welcomed the move, saying this is an example of the open-door policy of the regulator where dialogue has been encouraged, and a more consultative process to policy-making is being followed.