New Delhi, April 28 (IANS). Taking a major step to strengthen the urban co-operative banks i.e. cooperative banking (UCB) sector, the Reserve Bank of India (RBI) on Tuesday launched ‘Mission Saksham’ (Cooperative Bank Capacity Building). It is a training and capacity building program implemented across the country, aimed at improving the efficiency and management of co-operative banks.
The central bank said in a note that under this mission launched by the RBI, training will be given to about 1.40 lakh people, which will include the bank’s board members, senior management, heads of risk, compliance and audit departments as well as employees working in IT and other important areas.
These training programs will be conducted through both offline (in-person) and online (e-learning) mediums, so that maximum people can be reached.
‘Saksham’ means to make capable and competent. Keeping this objective in mind, RBI has tried to ensure that training programs are made available in regional languages also, so that it is easier for employees from different states to understand.
In preparing this mission, advice has also been taken from the umbrella organization of UCB sector and national/state cooperative unions.
RBI believes that this initiative will improve the management capacity and operational efficiency of cooperative banks. Also, the culture of following rules will be strengthened and the institutional strength of banks will also increase.
It has been said in the note that this mission will work towards creating a system where there is a process of continuous learning and improvement.
Through ‘Mission Saksham’, RBI aims not only to provide training but also to create a sustainable and robust ecosystem that will drive stability and growth of the entire UCB sector.
The central bank says that this initiative will play an important role in making the future of cooperative banks more secure and strong.
–IANS
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