11
Saturday
July 2020
1:46 AM IST
News Headlines
Missing Mayor found dead in north Seoul        Heavy rain hits scenic central Japan, more damage in south        Bikru bloodbath mastermind Vikas Dubey nabbed in MP town        NIA to probe gold smuggling case, ex-Consulate woman employee moves HC for anticipatory bail        Kerala reports biggest daily spike of 339 infections,COVID-19 tally crosses 6,500 mark        Holder wins early battle with Stokes as Windies take control        Ganguly announces cancellation of Asia Cup in September        We have asked every state to adopt one sport: Rijiju        Rupee slips 9 paise to 75.02 against USD        ICICI Bank to raise up to Rs 15,000 crore to bolster capital base        Trump threatens to cut federal aid if schools don't reopen        Pak PM urges world community to share info on COVID-19 strategies as tally rises to 239,225        Enhancing global cooperation need of the hour to effectively tackle COVID-19: Prez        Kanpur encounter: 2 policemen held for 'tipping off' gangster Vikas Dubey about police action        CBSE should explain rationale behind dropping certain chapters from curriculum: Sisodia        301 test positive in Kerala,COVID-19 tally crosses 6,000 mark        Dhoni turns 39, wishes pour in from all corners        New era for cricket as England-West Indies series begins        India''s COVID-19 tally, fatality rate per million population lowest in world: Govt        Rahul asks why no mention of Galwan Valley in MEA statement on talks        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | Health   | About Deepika 
Business News
RBI revamps departments for effective supervision, regulation of banking sector
 
Mumbai, Nov 1 (PTI) Under attack for not being able to prevent scams in the banking sector, the RBI on Friday reorganised its supervisory and regulatory functions into two departments to deal more effectively with potential systemic risk.

The central bank had separate departments for supervisory function as well as regulatory function which have been integrated into two unified departments.

The development follows the RBI's central board decision to create separate supervisory and regulatory cadre.

The Indian banking sector has witnessed a series of scams, including about Rs 14,000 crore fraud in Punjab National Bank and the recent PMC Bank crisis that affected lakhs of depositors. Besides, several large NBFCs have failed on their commitments to service their debt.

"The Reserve Bank of India has today (Friday) reorganised its regulatory and supervisory departments," the RBI said in a statement.

"...it has been decided to integrate the supervision functions into a unified Department of Supervision, and regulatory functions into a unified Department of Regulation with effect from November 1, 2019," the central bank said.

The Central Board of the RBI in its meeting on May 21, 2019, approved the creation of separate supervisory and regulatory cadre. The restructuring of regulatory and supervision functions is among the series of steps the RBI will take to implement this decision.

Currently, the supervision of financial sector entities is undertaken through three separate departments -- Department of Banking Supervision, Department of Non-Banking Supervision and Department of Cooperative Bank Supervision.

Similarly, the regulatory functions relating to financial sector entities are carried out through three separate departments -- Department of Banking Regulation, Department of Non-Banking Regulation and Department of Cooperative Banking Regulation.

The RBI mentioned that the reorganisation has been done with a view to having a holistic approach to supervision and regulation of the regulated entities. This would help 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 noted.

The restructuring will make supervisory and regulatory process "more activity based" rather than being segmented purely based on the organisational structure of regulated entities, it said further.

The exercise will bestow graded supervisory approach to all the RBI-supervised entities linked to their size and complexity, and also facilitate more effective consolidated supervision of financial conglomerates among the RBI-supervised entities.

"(The restructuring will) result in more efficient allocation of human resources attending to regulation and supervision of financial sector entities under the Bank's purview", the RBI said.

It also said the revamping will help build an experienced and skilled human resources in the area of regulation and supervision of financial sector entities.


Rupee slips 9 paise to 75.02 against USD
ICICI Bank to raise up to Rs 15,000 crore to bolster capital base
Gold jumps Rs 102, silver declines Rs 249
Finmin may review capital requirement of PSU banks after second quarter
I-T dept amends TDS form, makes it more comprehensive
Pak will complete CPEC at all costs, says PM Khan
COVID-19 caused huge demand destruction overseas: Bankers
Intel Capital to buy 0.39 pc stake in Jio Platforms for Rs 1,894 cr
Sensex surges over 200 pts in early trade; Nifty tops 10,600
India's trade deficit with China reduces to USD 48.66 bn in FY20
Work to begin shortly on Zojila tunnel: Gadkari
ONGC shares tank 4 pc after first-ever quarterly loss
Vodafone Idea shares plunge nearly 5 pc after FY20 earnings
Diesel price at new high as fuel prices hiked for 22nd time in just over 3 weeks
Prestige group's FY20 sales bookings flat at Rs 4,560 crore
No plans to sell non-core assets during this fiscal: PNB Chief
Petrol price up 25 paise, diesel 21 paise; rates hiked by Rs 9.12, Rs 11.01 in 3 weeks
SBI sanctions loans to over 4 lakh MSMEs under credit guarantee scheme
Money in Swiss banks: India at 77th place, accounts for just 0.06% of all foreign funds
Asian shares advance, tracking Wall Street tech rally
KERALA NEWS
Kerala reports biggest daily spike of 339 infections,COVID-19 tally crosses 6,500 mark
 Thiruvananthapuram: With COVID19 cases continuing to spiral, Kerala on Thursday recorded the biggest  
Kerala reports 272 fresh cases; 68 infected through contact
Will take appropriate decision at appropriate time:Jose K Mani
Kerala reports 131 new COVID cases, 75 recoveries, 2,112 patients under treatment
INTERNATIONAL NEWS
Missing Mayor found dead in north Seoul
 Seoul: The Mayor of this South Korean capital was found dead at Bugaksan mountain here on Thursday,
Heavy rain hits scenic central Japan, more damage in south
Trump threatens to cut federal aid if schools don't reopen
Pak PM urges world community to share info on COVID-19 strategies as tally rises to 239,225
NATIONAL NEWS
Bikru bloodbath mastermind Vikas Dubey nabbed in MP town
 Ujjain: History-sheeter Vikas Dubey ? the prime accused for whom Uttar Pradesh Police had launched a
Enhancing global cooperation need of the hour to effectively tackle COVID-19: Prez
Kanpur encounter: 2 policemen held for 'tipping off' gangster Vikas Dubey about police action
CBSE should explain rationale behind dropping certain chapters from curriculum: Sisodia
Untitled Page
Rashtra Deepika LTD
Copyright @ 2020 , Rashtra Deepika Ltd.