New Delhi, Feb 11 (UNI) Reserve Bank of India (RBI) Deputy Governor Swaminathan J today underscored the importance of organisational culture, ethics and ownership in building resilient financial institutions.
While speaking at the Axis Champions Awards held at Axis House in Mumbai, the Deputy Governor said that while banks often celebrate performance, true institutional strength lies in how results are achieved.
“Being recognised as a Champion today is not just about what you achieved, but how you achieved it,” he said, emphasising that “means matter” as much as ends.
Highlighting the theme of the awards, he noted that institutions meet rising expectations not only through strategy but through culture.
He outlined five core values underpinning the recognition customer centricity, ethics, teamwork, transparency and ownership describing them as “practical guides for daily behaviour” rather than abstract ideals.
On customer centricity, the Deputy Governor stressed that effective service is rooted in getting the basics right. Clear communication, accuracy in execution, fairness in dealings and timely resolution are what matter most in banking, he said. The best service, he added, is often “quiet and consistent,” built on clarity, care and responsiveness.
Calling ethics a “working discipline,” he cautioned against treating it as a soft theme. Ethical conduct, he said, prevents small compromises from turning into major problems and is critical in handling grey areas and correcting mistakes fairly and quickly.
Regulatory discipline, he said, should not be seen as a box-ticking exercise but as central to long-term credibility.
Addressing the complexity of modern banking risks, he observed that challenges often cut across departmental boundaries and require coordinated teamwork. Effective collaboration reduces blind spots and improves response times, he said.
On transparency, he emphasised the need for clear communication with customers, particularly in digital journeys, ensuring that terms, charges and consent are unambiguous.
Transparency, he noted, is also inward-facing—encouraging employees to raise concerns and flag errors without fear.
The Deputy Governor described ownership as the difference between viewing something as “my task” and “my responsibility”. Champions, he said, not only deliver results but set standards that others emulate.
While Axis Bank recognised 100 Champions at the event, he reminded the gathering that institutional strength ultimately rests on the collective conduct of thousands of employees.
“In the long run, it is values, not just strategies, that determine credibility and longevity,” he added, congratulating the awardees and wishing the Axis Bank family continued success rooted in strong governance and ethics.
