RBI urges banks to appoint CFOs and CTOs

The Reserve Bank of India (RBI) urged banks to appoint chief financial officer (CFO) and chief technology officer (CTO) in their management structure with a minimum 15 years of experience in relevant areas.

“Rapid innovations in banking and technology call for better risk governance in the areas of finance and technology. A CFO and CTO in banks’ management structure would play a crucial role in strengthening and sustaining the banks’ risk governance framework,” RBI said in a notification.

“It is, therefore, advised that banks, while inviting applications for these positions, stipulate, at a minimum, the qualifications and experience for the CFO and CTO.”

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