Home / Finance / Interviews / RBI supervision not meant to be intrusive or punitive: Deputy Governor Jain

RBI supervision not meant to be intrusive or punitive: Deputy Governor Jain

Jain, whose 5-year tenure ends today, talks about the importance of technology, customer service and financial inclusion, besides the RBI's focus on governance at banks and every financial institution

Premium

RBI Deputy Governor M K JAIN

13 min read Last Updated : Jun 21 2023 | 6:05 PM IST

It is a false perception that the Reserve Bank of India (RBI) is intrusive and micromanages banks’ affairs. The supervisory intensity is meant to ensure banks remain stable, strong, and resilient, says RBI Deputy Governor M K JAIN, whose portfolio includes supervision.

In a free-wheeling interview with Tamal Bandyopadhyay, Jain, whose five-year tenure ends today, talks about the importance of technology, customer service and financial inclusion, besides the RBI’s focus on governance at banks and financial institutions, and migration to principle-based regulations. Edited excerpts:

You said in a recent speech that banks would have to transform like technology companies, continuously

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in