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Future-proofing the Indian financial system

· Shaktikanta Das, Governor of the Reserve Bank of India (India)

Summary written by Dark Majestic in its own words · topics: financial stability, banking regulation and supervision, technology, ai and cyber risk

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· Shaktikanta Das Wiki · Reserve Bank of India WikiFuture-proofing the Indian financial system

ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Global Conference on Financial Resilience, organised by the College of Supervisors, Mumbai, 27 April 2023.

Why it mattersDas warns about growing cyber and operational risks.

Problems raised
  1. Financial systems face new risks, including technology risks.
  2. Operational and cyber risks are growing.
  3. Shocks can test resilience at any time.
Solutions proposed
  1. Strengthen supervision and risk management in banks.
  2. Apply international principles on ICT risk management.
  3. Invest in supervisors' skills and research.
Read full speech on bis.org ↗

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