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Protecting Depositors’ Money is a Sacred Duty, Says RBI Governor Shaktikanta Das

Reserve Bank of India (RBI) Governor Shaktikanta Das emphasized the sacred duty of protecting depositors’ hard-earned money during a speech to directors of urban cooperative banks (UCBs). He stressed that safeguarding depositor funds takes precedence over visiting religious places and is a duty of utmost importance.

The Significance of Depositor Money

Governor Das highlighted that the entire banking system relies on deposits, which are contributed by small savers, the middle class, and retirees. Therefore, ensuring the safety of depositors’ money is a vital responsibility for every banker. He likened this responsibility to the sacred act of visiting temples, masjids, or gurdwaras and underlined its paramount significance.

The Biggest Responsibility

Das asserted that protecting depositors’ money is the most significant responsibility placed upon banks. It is not only a regulatory duty but also a moral and ethical obligation. The RBI works in conjunction with banks to establish regulations and supervision measures to ensure the safety of depositors’ funds.

Challenges Faced by Cooperative Banks

Governor Das acknowledged that challenges, especially in the cooperative banking sector, have led to depositor funds being stuck. Irregularities by management have been a common root cause of such issues. The RBI has introduced a four-tiered structure for UCBs to enhance regulation and supervision.

Ensuring Stability in the Banking System

Das highlighted the importance of a stable banking system for the overall functioning of the economy and emphasized that UCBs are integral to the sector. He assured that the RBI’s efforts to strengthen supervision should not be viewed as hindrances to the growth of cooperative banks but rather as measures to safeguard the interests of depositors and ensure the stability of the banking system.


Governor Shaktikanta Das’s remarks underscore the critical role of protecting depositors’ money in the banking sector. The safety of these funds is not only a regulatory obligation but also a moral responsibility that holds immense importance in the banking industry.


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