g padmanabhan : secured online banking vs. customer convenience – opportunities and challenges comments by mr g padmanabhan, executive director of the reserve bank of india, at the annual conference on secure banking 2011, mumbai, 29 july 2011. * * * assistance provided by shri k. sivaraman and shri p. k. chophla in preparation of these comments is gratefully acknowledged. ladies and gentlemen, good morning. it is my pleasure to be here amongst all of you in the annual conference on secure banking 2011, and share with you some of my thoughts on the subject. i thank iba and mp tfci, co - organizers for the event, for this opportunity. banking, as all of us know, is a business activity synonymous with trust, and security in banking is a paramount presumption for trust. the concept and perception of such security in banking has, over a period of time, changed drastically, in tandem with changes in the way banking business is conducted. assets with the banks are maintained more in digitized rather than physical form, transactions are carried out over technology enabled platforms / applications and communications are over electronic modes. physical, geographical and “ product ” boundaries are no more the constraints for the growth of banking business, which is rapidly expanding. there are newer products and channels of delivery. networked environment has enabled delivery of banking services at the doorstep of the customer. anywhere anytime banking with core banking and newer delivery channels viz., atm, online banking, mobile banking etc. have provided convenience of banking to the customer and an increasing number of people rely upon the convenience and ease of use of internet banking services in their business as well as daily life. but, this also enhances customer expectations about efficient delivery with security. retaining customer loyalty and thus, business in a fiercely competitive electronic banking industry lies in delivering customer expectations. in the it enabled banking environment, it has to be recognized that fraud possibilities have assumed international dimensions. as it is often said, in a chain, it is the weakest link that is most vulnerable. therefore, it is not only important to ab initio set up a safe platform, one needs to make sure that the so called “ safety ” is continuously benchmarked against international standards. in such a scenario, all the three attributes of information security viz. confidentiality, integrity and availability at all the relevant stages of entry, storage, and transaction acquire immense importance. as such, there has to be a paradigm

norhana endut : navigating climate risk stress testing in malaysia catalysing dialogue and charting the course opening remarks by ms norhana endut, assistant governor of the central bank of malaysia ( bank negara malaysia ), at the workshop " navigating climate risk stress testing in malaysia : catalysing dialogue and charting the course ", jointly organised by bank negara malaysia ( bnm ) and the joint committee on climate change ( jc3 ) subcommittee 1 transition and physical risk working groups, kuala lumpur, 23 september 2024. * * * a very good morning to everyone. it is my great honour to welcome you to this workshop on " navigating climate risk stress testing in malaysia : catalysing dialogue and charting the course ", jointly organised by bank negara malaysia ( bnm ) and the joint committee on climate change ( jc3 ) sub - committee 1 transition and physical risk working groups. this capacity building workshop brings together financial industry players and experts in related fields to share experiences, learn best practices and exchange ideas as we collectively prepare to conduct our first industry - wide climate risk stress test. we firmly believe that climate change is an immediate challenge that poses risks to our financial system. to this end, allow me to describe how the central bank is approaching financial regulation in this space. in malaysia, we have taken steps to put in place the foundational components to improve the ability of financial institutions to identify, measure and manage climate - related financial risks. there are five key pieces to these foundational components. firstly, a climate taxonomy establishes a consistent and common classification system for the identification of climate - related exposures. second, mandatory climate disclosures by financial institutions will create an impetus for financial institutions to obtain information on their borrowers and investee firms. this, in turn, creates a virtuous cycle of informational flow. third, regulatory standards on the management of climate - related risks set expectations for financial institutions to reflect these risks in their governance, strategy and risk practices. fourth is a focus on transition planning. this is to ensure financial institutions set clear climate goals and concrete transition plans. with these building blocks in place, we are now in a good position for the fifth component, which is to accelerate industry capabilities via the conduct of the industrywide climate risk stress test. ladies and gentlemen, allow me to shed more light on the motivation behind the implementation of the climate risk stress test. the exercise is primarily intended to enhance capacity building among financial institutions in