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RBI to create specialised supervisory & regulatory cadre for regulation of banks, NBFCs
May-22-2019

With a view to strengthening 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 in its 576th meeting has decided to create a specialised supervisory and regulatory cadre within the RBI.

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

Apart from this, discussion was done on various matters including issues related to the Currency Management and Banker to Government functions of the RBI. Besides, the Board discussed the Medium Term Strategy document, covering, inter-alia, the Mission Statement and the Vision Statement.

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