Reserve Bank of India Reorganises its Regulation and Supervision Departments - ஆர்பிஐ - Reserve Bank of India
Reserve Bank of India Reorganises its Regulation and Supervision Departments
Reserve Bank of India has today reorganised its regulatory and supervisory Departments. It may be recalled that the Central Board of the Reserve Bank of India had in its meeting on May 21, 2019, approved the creation of the separate supervisory and regulatory cadre. The restructuring of the regulation and supervision function is among a series of steps RBI will take to implement this decision. 2. Currently, the supervision of financial sector entities is undertaken through three separate departments, viz., Department of Banking Supervision, Department of Non-Banking Supervision and Department of Co-operative Bank Supervision. Similarly, the regulatory functions relating to financial sector entities are carried out through three separate departments, viz., Department of Banking Regulation, Department of Non-Banking Regulation and Department of Cooperative Banking Regulation. With a view to having a holistic approach to supervision and regulation of the regulated entities so as to address growing complexities, size and inter-connectedness as also to deal more effectively with potential systemic risk that could arise due to possible supervisory arbitrage and information asymmetry, it has been decided to integrate the supervision function into a unified Department of Supervision and regulatory functions into a unified Department of Regulation with effect from November 01, 2019. 3. The above restructuring will:
(Yogesh Dayal) Press Release: 2019-2020/1078 |