Empowering MSMEs with News & Insights

RBI to create specialized cadre within RBI to regulate banks, NBFCs

Updated: May 22, 2019 06:45:18am
image

Chennai, May 22 (KNN) With a view to strengthe  the supervision and regulation of commercial banks, urban cooperative banks and Non-Banking Financial Companies (NBFCs), the Reserve Bank of India’s (RBI) Central Board decided to create a specialized supervisory and regulatory cadre within the RBI.

The decision was taken in the 57th meeting of the Central Board under the Chairmanship of Shaktikanta Das, Governor of RBI, here.

The Board reviewed the current economic situation, global and domestic challenges and various areas of operations of the Reserve Bank.

Among other important matters, the Board discussed the Medium Term Strategy document, covering, inter-alia, the Mission Statement and the Vision Statement.

The Board also reviewed the present structure of supervision in RBI in the context of the growing diversity, complexities and interconnectedness within the Indian financial sector.

Other matters discussed by the Board included, inter-alia, issues related to the Currency Management and Banker to Government functions of the RBI.

COMMENTS

    Be first to give your comments.

LEAVE A REPLY

Required fields are marked *