10 Jun 2022 , 03:27 PM
Shaktikanta Das, serving as the 25th governor of the Reserve Bank of India, has recommended firms put in place corporate governance and risk management systems in order to ensure their long-term viability in an increasingly technology-driven world.
According to the governor of RBI, such procedures are also necessary for the system’s financial stability. The Reserve Bank is also likely to release a regulatory framework for technology-based digital lending, which is growing in popularity.
“Taking risks is a necessary part of conducting business. What I’m emphasizing today is the need to properly weigh the benefits and drawbacks of any risk before taking it,” said RBI governor ShaktiKanta das at a Central Board of Indirect Taxes and Customs event in Mumbai on Thursday. “Any business’s long-term performance is strongly tied to the quality of its governance, internal control systems, and risk and organizational culture.”
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