Transformation of Banking Governance in Digital Age

Introduction:

Indian Banking sector is governed by the Reserve Bank of India (RBI) regulates all the major issues related to currency, foreign exchange reserves of Public Sector as well as Private Sector. Setting the bank's business objectives, its appetite for risk, its internal controls, as well as allocating roles and responsibilities and setting up adequate reporting lines are all aspects which fall under the scope of internal governance. Corporate Governance” is the mechanism by which managers are selected, motivated, and become accountable to shareholders and managers as well. Central Bank of India regulates all the major issues related to currency, foreign exchange reserves of Public Sector as well as Private Sector. Banking Governance for banks is crucial for the development of banking activities. RBI has brought out specific guidelines for corporate governance for banks.