Home   »   summits conferences   »   SEACEN-FSI 25th Conference of Asia-Pacific Supervision...

SEACEN-FSI 25th Conference of Asia-Pacific Supervision Directors in Mumbai

SEACEN-FSI 25th Conference of Asia-Pacific Supervision Directors: Banking supervisors are being urged by the Reserve Bank to keep up to date with technological advances in order to regulate and monitor the fast-evolving world of financial technology.

SEACEN-FSI 25th Conference of Asia-Pacific Supervision Directors: Highlights 

  • The Reserve Bank’s deputy governor, Mukesh Jain, stated that as banks continue to adopt new technologies, it is essential that supervisors have access to the knowledge and resources needed to effectively supervise them.
  • Jain also warned that the recent failure of banks abroad has added to the challenges faced by supervisors, who must maintain stability and minimise risks.
  • He commented that supervisors must find a balance that ensures financial stability and minimises moral hazard risks.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

What is so important?

  • Both banks and banking supervisors must develop their capabilities to handle technological advancements and navigate uncertain waters, as there are inherent risks associated with handling data, including data breaches and privacy concerns, said Jain. Investment in technology with a long-term vision and upgrading knowledge and skills will be necessary.
  • To enhance the effectiveness of supervisory frameworks, the Reserve Bank has used various analytical tools, including early warning systems, stress testing models, vulnerability assessments, and micro-data analytics, among others.
  • The bank is also adopting advanced analytics, artificial intelligence, and machine learning to gain deeper insights into supervised entities’ operations, while safeguarding necessary measures.
  • The Reserve Bank has established a College of Supervisors to provide general and specialised training programs to build supervisors’ skills and capacity.

Find More News related to Summits and Conferences

SEACEN-FSI 25th Conference of Asia-Pacific Supervision Directors in Mumbai_40.1

SEACEN-FSI 25th Conference of Asia-Pacific Supervision Directors in Mumbai_50.1