Urban cooperative banks need to evolve digitally: RBI Deputy Governor Swaminathan

RBI Deputy Governor Swaminathan J urged urban cooperative banks to embrace digitalization and strengthen cybersecurity, emphasizing the need for improved liquidation processes to safeguard depositors. He highlighted the importance of collaboration between RBI and registrars of co-operative societies. Deputy Governor Rao stressed cooperative banks' role in financial inclusion and urged stronger governance and risk management.

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