I am very happy to be here today to share with you the present status of cooperatives in general and the role of rural cooperative banks as an institution, in particular. I feel honoured to be here with you all and inaugurate this Orientation Programme on Investment in Government Securities.
We have conducted some preliminary consultation with stakeholders and believe that a risk-based framework, with the obligation applied to the highest impact firms only, is the best and most proportionate way forward. The Central Bank Supervision and Enforcement Bill provides a clear mandate to introduce such assurance requirements, so when the legislation is adopted this can be progressed to a conclusion.