Cyber Security and Discussion Forum in Kolhapur district

A training program on Cyber Security covering the subjects’ cyber-crimes and mitigation of risks arising out of the emerging cyber threats was organized by the Maharashtra Urban Co-operative Banks’ Federation, Mumbai in collaboration with the Kolhapur Zilha Nagari Sahakari Banks Association, Kolhapur on 19/07/2024 at the Hotel Fern, Kolhapur.

The program was inaugurated by Smt. Vaishalitai Awade, Vice Chairperson of the Federation and was well attended by the Chairmen, Directors and Senior Staff of UCBs in Sangli, Satara and Kolhapur districts. Shri Nipun Kore, director of the Federation as well as Chairman of Kolhapur Zilha Nagari Sahakari Banks Association in his inaugural speech pointed out various issues, difficulties faced by the UCBs while carrying out banking activities and also emphasized on whole hearted support provided by the Federation to overcome such difficulties.

Shri Ravikiran Mankkikar, Founder Chairman of RKM Consultants, Mumbai conducted the training program that covered the emerging cyber threats, risks arising out of such threats and mitigation measures to be put in place. He also spoke on the compliance requirements regarding the Cyber Security and Resilience aspects to be submitted by all banks as per the various circulars, advisories and alerts issued by the RBI from time to time.

After the training program, a Discussion Session was organized by the Federation to discuss the policy issues pertaining to the UCBs.

Initiating the discussions, Hon. Chairman Shri Ajay Bramhecha mentioned the excellent and commendable achievements of the Federation during the year. Later while addressing the audience, he said that in the TAFCUB meetings organized by the RBI for Mumbai, Nagpur and Central Divisions, it was found that approximately 46 % of UCBs in SAF were from Western Maharashtra. However due to constant follow up by the Federation, most of these banks have been withdrawn from the SAF, while the banks which are still in SAF, should co-operate with the Federation by giving their updated/factual financial information so that they would be able to come out of SAF. He informed the participants that by organizing pre TAFCUB meetings for the UCBs positive side of these banks, is being strongly presented by the Federation to the RBI and valuable guidance is also being provided by the Federation to these banks to improve their financial position.

Hon. Chairman in his speech further elaborated on various issues pertaining to UCBs, especially of PSL Shortfall. He mentioned that the extension is given to achieve PSL targets till 2026, after a correspondence and visits to the Office of Hon. Union Minister of Co-operation, Shri Amit Shahji. He expressed gratitude towards the Union Ministry for taking such positive steps for the betterment of the sector.

Hon. Chairman in his concluding remarks appealed to the representatives present, who are not members to become members of the Federation. He thanked Shri Nipun Kore, Chairman of Kolhapur Zilha Nagari Sahakari Banks Association as well as Smt. Vaishalitai Awade, Vice Chairperson of the Federation for helping to arrange the training program and Discussion Forum in Kolhapur district. Finally he thanked all directors of the Federation and representatives of UCBs for their valuable presence and active participation.

The training program and discussion session was compered by Smt. Sayali Bhoir, Chief Executive & Secretary of the Federation.