ITANAGAR, Feb 25: NABARD Regional Office, Arunachal Pradesh organized a one-day workshop on statutory compliances for officers and staff of Arunachal Pradesh Rural Bank and Arunachal Pradesh State Cooperative Apex Bank at Naharlagun today.
Virtually inaugurating the programme, Sudhir Kumar Roy, Chief General Manager, Department of Supervision, NABARD Head Office, highlighted the importance of ensuring compliance with statutory provisions and shared his valuable insights on the need for avoiding regulatory action by the Supervised Entities of NABARD.
Abhijit Majumdar, General Manager RBI, Itanagar, advised both banks to take statutory compliances and adherence to guidelines/instructions of RBI and NABARD seriously and ensure adherence at all times. He referred to recent instructions issued by RBI on subjects and advised banks to be scrupulous in implementing the same.
S V Ranga Rao, General Manager/OiC, NABARD Regional Office (Itanagar), underscored the critical importance of adhering to the provisions of the Banking Regulation Act and other statutory compliance requirements that govern the day-to-day functioning of banks.
The GM emphasized that bank officials must remain vigilant and well versed with regulatory obligations to ensure accuracy, transparency, and accountability in operations. Highlighting the need for sustainable and continuous compliance, he stressed that banks must strengthen their internal systems and governance mechanisms to avoid lapses. He also drew attention to the increasing instances of penalties imposed by the Reserve Bank of India for non compliance, reiterating that timely adherence to statutory norms is essential for safeguarding institutional credibility and maintaining public trust.
Technical sessions were conducted by experts from RBI and NABARD RO (Itanagar), BIRD, Kolkata and Department of Supervision, NABARD HO. The sessions covered Internal Checks and Control Systems, KYC/AML/CFT policies, IRAC norms, Audit Systems, etc.