New Delhi, Aug 26 : Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday emphasised on strengthening governance standards.

Addressing a meeting of managing directors and chiefs of select non-banking finance companies (NBFCs) and housing finance companies (HFCs), Das said that governance standards and assurance mechanisms such as compliance, risk management and internal audit should be made stronger, reads a statement issued by the RBI. 

In the meeting, which was held in Mumbai, ways to contain the increasing reliance on bank borrowings, risks associated with high credit growth in the retail segment, prioritising the upgrade of IT systems and cyber security were also discussed, the statement said.