Banks' IT systems must align with pace of business growth: Das

RBI Governor Shaktikanta Das emphasized the need for banks to ensure their information technology systems' capacity aligns with their business growth. He reiterated the central bank's vigilance over the financial sector, indicating readiness to implement regulatory measures as needed. \r

RBI officials responded to queries regarding potential overheating in the economy, growth projections for FY25, and concerns about usurious lending practices. While the RBI aims to communicate risks and encourage strategic planning by banks, it does not seek to micromanage their operations. \r

Addressing issues like digital outages, RBI monitors system performance and advises corrective actions. Banks are encouraged to invest sufficiently in technology to maintain operational efficiency, with RBI offering guidance and support when needed.