RBI Unveils Mission SAKSHAM for Capacity Building of Urban Cooperative Banking Sector

RBI Launches Mission SAKSHAM to Enhance Urban Cooperative Banking Sector

The Reserve Bank of India (RBI) has taken another significant step to support the Urban Cooperative Banking (UCB) sector with the launch of Mission SAKSHAM. On Tuesday, RBI Governor Sanjay Malhotra unveiled the initiative, aimed at capacity-building of the UCB sector.

The RBI has been actively working to strengthen the UCB sector through regulatory and supervisory measures. To further enhance the sector's capabilities, the central bank has designed Mission SAKSHAM in consultation with the Umbrella Organisation of UCBs and the National/State Cooperative Federations. This initiative is expected to have a significant impact on the sector, enhancing managerial and operational capabilities, improving compliance culture, and strengthening institutional resilience across UCBs.

Under Mission SAKSHAM, a large number of training programmes will be conducted for UCBs, covering approximately 1.40 lakh participants. The training programmes will cater to various target groups, including board members, senior management, heads of risk, compliance and audit functions, and employees working in IT functions and other critical areas. Notably, the RBI has made a commitment to conduct these training programmes with content delivery in regional languages to the extent feasible.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Mission SAKSHAM has been designed to establish a sustainable, self-reinforcing ecosystem for continuous learning, contributing significantly to systemic stability and healthy growth and development of the UCB sector. The initiative is expected to have a lasting impact on the sector, enabling UCBs to operate more efficiently and effectively.