In a bid to communicate with Chairmen/Directors of UCBs, the Reserve Bank of India held a conference of representatives of select UCBs of Southern Zone in Hyderabad on Wednesday, in which RBI Deputy Governor Swaminathan J gave the keynote address.
The meeting was attended by the UCBs located in Andhra Pradesh, Karnataka, Kerala and Telangana. The theme of the Conference was ‘Governance in UCBs: Combating Cyber Threats and Enhancing Resilience’.
In his keynote address, RBI Deputy Governor Swaminathan J, emphasized the pivotal role UCBs play in furthering financial inclusion and the importance of proactive measures to uphold the resilience of the UCB sector.
He highlighted the need for good governance, adoption of technology while fortifying cyber security and operational resilience as well as capacity building in the UCB Sector.
It is learned that the representatives of AP Mahesh Bank, Visakhapatnam Cooperative Bank, Gandhi Cooperative Urban Bank, Guntur Cooperative Urban Bank, Kanaka Mahalakshmi Cooperative Bank, Suco Souharda Sahakari Bank, Gayatri Cooperative Urban Bank, Adarsh Co-operative Urban Bank, Sirsi Urban Cooperative Bank and others attended the meeting.
Around 100 delegates from four states attended a day-long event. Around 30 UCBs representatives participated.
Discussions during the conference revolved around approaches to strengthen cybersecurity, inculcating a culture of cyber awareness and implementing measures to protect and respond to cyber-attacks effectively.
The Conference included an address by the Executive Director and an open house interactive session between the participants and the senior officers of the RBI. The Conference was also attended by senior RBI officials including Executive Director and other officers of Department of Supervision, Department of Regulation and Regional Directors of RBI.
The video recorded message of the governor’s address to the board of directors of UCBs in Mumbai was also presented.
Meanwhile, talking to the Indian Cooperative, a few representatives of UCBs expressed their sense of satisfaction about the conference. The conference was beautifully designed and we got to learn many new things in running UCBs in a good manner.
It bears recall that Reserve Bank of India has previously engaged with the Directors of large UCBs in Mumbai in August 2023.
Prabhuti Samal, DGM, DoS presented the closing remarks and a vote of thanks.