Ravi Duvvuru

HDFC Bank's boardroom tensions highlight a deeper issue: governance failures persist not due to weak rules, but weak internalisation of accountability and oversight

Sophisticated systems track risk, but culture - shaped by incentives and frontline pressures - remains the real control

The RBI's actions throughout the year mark a decisive shift towards principle-based regulation and systematic rationalisation of legacy instructions

DPDP Act (2023) gives individuals the right to decide how their personal data is collected and used. For many businesses, this means reworking longstanding data practices

RBI's focus on customer, compliance and collaboration will continue in 2025. It will have new initiatives balancing innovation and prudence

Regulation-making has become collaborative with changes first being brought in the form of a discussion paper or a draft circular

The RBI's efforts in 2023 were directed at supporting fair practices, innovation and controlling risks while focusing on financial stability

Regulated entities should realise that the central bank's enforcement actions carry reputation risks, erode investor confidence, and impact the chief executive's tenure

Financial institutions have limited choice. The central bank is increasingly looking at governance while evaluating the effectiveness of the board and senior management

It is time for an engagement strategy document incorporating best practices of other central banks in key markets