Boardroom executives in pinstriped suits are heading back to the classroom next week. And they seem to have lots to learn in mitigating systems risks at the banks they lead.
The Department of Financial Services (DFS) at the finance ministry has directed all public sector banks to attend a three-day workshop at the SBI Training Academy in Gurugram, near Delhi, to train and teach bankers the latest in technology and risk management systems.
The workshop’s timing and thematic thrust, bankers say, may be a direct fallout of the Rs 13,000-crore, Nirav Modi scandal at the Punjab National Bank (PNB), billed as India’s biggest banking fraud to date.
The workshop starting Monday would aim to address and raise the awareness about the weak systems and processes in public sector banks and will…
