https://www.taxtmi.com/news?id=16547 Immediate priority is to clean up bank balance sheets and address asset quality stress in public sector banks, with recapitalisation required to meet provisioning, Basel III and accounting migration needs. Complementary governance reforms include stronger board selection and oversight through the Bank Board Bureau, separation of Chairman and CEO roles, milestone linked longer CEO tenures and orderly succession, and enhanced managerial and HR autonomy to align incentives. Boards must set a clear risk appetite, enforce a three lines of defence, strengthen fraud controls including a fraud registry and quick response, centralize KYC/AML surveillance, and oversee technology and cybersecurity risks. en-us Fri, 26 Aug 2016 18:06:32 +0530 Fri, 26 Aug 2016 18:06:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16547 Immediate priority is to clean up bank balance sheets and address asset quality stress in public sector banks, with recapitalisation required to meet provisioning, Basel III and accounting migration needs. Complementary governance reforms include stronger board selection and oversight through the Bank Board Bureau, separation of Chairman and CEO roles, milestone linked longer CEO tenures and orderly succession, and enhanced managerial and HR autonomy to align incentives. Boards must set a clear risk appetite, enforce a three lines of defence, strengthen fraud controls including a fraud registry and quick response, centralize KYC/AML surveillance, and oversee technology and cybersecurity risks. News - Fri, 26 Aug 2016 18:06:32 +0530 https://www.taxtmi.com/news?id=16547