The Standing Committee on International Financial Standards and Codes (Chairman : Dr. Y. V. Reddy) had appointed ten Advisory Groups of which Advisory Group on Banking Supervision is one. The Group is chaired by Shri M. S. Verma, former Chairman, State Bank of India, with Shri K. R. Ramamoorthy, Shri H. N. Sinor and Shri Janki Ballabh as members. The Advisory Group has submitted Part I of its Report which deals with corporate governance in banks, supervision of cross border banking, transparency in banks and internal rating system in banks.

In accordance with the terms of the Standing Committee, the Report is being made available to the public for generating wider discussion. The full text of the report of the Advisory Group on Banking Supervision is placed on the RBI website (www.rbi.org.in)