Reserve Bank of India Regional Director for Andhra Pradesh, Attah Omar Basheer, has emphasised the need for stronger governance and regulatory compliance in cooperative banks, stating that depositor trust remains central to the survival and growth of the sector.
Speaking at a one-day training programme and workshop on ‘Governance and Regulatory Compliance’ organised by National Federation of Cooperative Urban Banks and Credit Societies in Vijayawada, Basheer noted that cooperative banks maintain a closer relationship with customers than commercial banks due to their direct connection with people’s savings and financial confidence.
He highlighted that transparency, accountability, independent decision-making, responsible governance, professional integrity and ethical practices are essential for ensuring long-term institutional stability and growth.
Basheer also advised cooperative banks to treat regulatory compliance as a protective framework rather than an operational burden. He urged management teams to strengthen risk management systems and remain alert to increasing cybersecurity challenges facing the banking sector.
The workshop saw participation from board directors, senior management and banking officials from across the region. Chitturi Ravindra, President of AP Cooperative Urban Banks Federation, and Subhash Gupta, Chief Advisor of NAFCUB, were also present during the event.
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