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The Reserve Bank of India (RBI) conducted a Conference of Directors of select Urban Co-operative Banks (UCBs) from the Southern Zone in Hyderabad on January 24, 2024. The event was part of RBI’s ongoing engagement with UCB leadership, following a similar interaction with Directors of large UCBs held in Mumbai in August 2023. The theme of the conference was “Governance in UCBs: Combating Cyber Threats and Enhancing Resilience.”
The conference was attended by senior RBI officials, including the Executive Director and officers from the Department of Supervision, Department of Regulation and Regional Directors of the RBI.
In his keynote address, Deputy Governor Shri Swaminathan J highlighted the critical role of UCBs in promoting financial inclusion and stressed the importance of strong governance, responsible adoption of technology, enhanced cybersecurity, operational resilience, and sustained capacity building across the sector.
The discussions focused on strengthening cybersecurity frameworks, building a culture of cyber awareness, and ensuring readiness to prevent and respond to cyber threats. The conference also featured an address by the Executive Director and an open-house interactive session between participants and senior RBI officials.
[RBI]