VIJAYAWADA: Regional Director of the Reserve Bank of India (Andhra Pradesh), Attah Omar Basheer, on Wednesday stressed that trust is the foundation for the survival of cooperative banks and called upon institutions to safeguard depositor confidence through strong governance and compliance practices.
He was speaking at a one-day training programme-cum-workshop on ‘Governance and Regulatory Compliance’ organised by the National Federation of Cooperative Urban Banks and Credit Societies in Vijayawada. Basheer observed that cooperative banks share a closer relationship with customers compared to commercial banks, as they deal directly with people’s savings and trust.
He underlined that transparency, accountability, independent decision-making, responsible governance, professional integrity and ethical values are essential for sustained growth.
He urged bank managements to view regulatory compliance as a safeguard rather than a burden and advised them to strengthen risk management systems while remaining vigilant against cyber threats.
The event witnessed participation from board directors, management and officials across the region. AP Cooperative Urban Banks Federation President Chitturi Ravindra, NAFCUB Chief Advisor Subhash Gupta and other senior officials were present.