RBI Governor Shaktikanta Das calls protecting depositors' money 'sacred duty, like going to temple, masjid or gurdwara'
Tuesday, 26 September 2023 ''Protection of depositors' money is the most important responsibility of a bank. It is a sacred duty. It is a sacred duty like going to a temple or masjid or gurdwara to bow down, it's a sacred task. In fact, I would say this is much more,'' Das said.
RBI's action against Paytm and Kotak Mahindra Bank for non-compliance raised concerns. Kotak Mahindra's failure to meet data storage requirements led to RBI directives. Similar actions were taken against HDFC Bank in 2020. The events underscore the need for stronger regulatory mechanisms.
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Reserve Bank of India Governor Shaktikanta Das has been ranked as the top central banker globally by a US-based Global Finance magazine. Das has been rated 'A+' in the Global Finance Central Banker..
Tuesday, 26 September 2023
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