Rao made the remarks at the Conference of Directors of Banks organised by the Reserve Bank of India for both Public and Private sector banks recently. “The banking sector in India at this juncture is sound, resilient, and financially healthy. So, the time is perhaps right to improve the plumbing by addressing the gaps in governance frameworks, assurance functions and strategise for better times ahead,” Rao said.
Taking the proverbial route, he added the time to fix the roof is while the sun is shining.
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