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The skills required to asses risks in banks need to be enhanced significantly, according to Mr R. Ramachandran, Chairman and Managing Director, Andhra Bank.
Speaking at the inaugural session of a two-day international conference on corporate governance in the banking sector organised by the Institute of Public Enterprise (IPE) here on Thursday, he said the risk management skills among the senior management were limited.
Sound risk management would go a long way in ensuring good corporate governance, Mr Ramachandran said.
Corporate governance should be based on proper regulation and transparency not only at the board-level but also in the branches, he added.
Ms Rose Mary Sebastian, General Manager (Banking Supervision), Reserve Bank of India, said the apex bank had recently put in place the ‘fit and proper' criteria for appointment of nominated directors on the boards of banks.
Prof R. K. Mishra, Director, IPE, said inflation control and financial stability were essential for growth and corporate governance in banks was important in this regard.
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