As part of the continuing engagement with the Directors of UCBs, the Reserve Bank of India (RBI) held a Conference of Directors of select UCBs of Southern Zone in Hyderabad, on January 24, 2024. The theme of the Conference was ‘Governance in UCBs: Combating Cyber Threats and Enhancing Resilience’. The Conference was also attended by senior RBI officials including Executive Director and other officers of Department of Supervision, Department of Regulation and Regional Directors of RBI. Reserve Bank haspreviouslyengagedwith the Directors oflarge UCBsin Mumbaiin August 2023.

Deputy Governor Shri Swaminathan J, in his keynote address emphasised the pivotal roleUCBsplay in furthering financialinclusion and the importance of proactive measures to uphold the resilience of the UCB sector. He highlighted the need for good governance, adoption of technology while fortifying cyber security and operational resilience as well as capacity building in the UCB Sector.

Discussions during theconferencerevolved around approaches tostrengthencybersecurity, inculcating aculture ofcyber awarenessand implementing measures to protect and respond to cyber-attacks effectively. The Conference included an address by the Executive Director and an open house interactive session between the participants and the senior officers of the RBI.

(Yogesh Dayal)       
Chief General Manager

Press Release: 2023-2024/1736