RBI to create specialised supervisory & regulatory cadre

The Reserve Bank of India's central board Tuesday decided to create a specialised supervisory and regulatory cadre within the RBI to strengthen the supervision and regulation of commercial banks, urban cooperative banks and non-banking financial companies.

A decision to this effect was taken at a meeting of the Central Board here under the Chairmanship of RBI Governor Shaktikanta Das.

Deputy Governors N S Vishwanathan, Dr Viral V Acharya, B P Kanungo and Mahesh Kumar Jain besides RBI's Central Board of Directors Bharat Doshi, Sudhir Mankad, Manish Sabharwal, Satish Marathe and Swaminathan Gurumurthy attended the meet.

According to a RBI release, the Board reviewed the current economic situation, global and domestic challenges and various areas of operations of the Reserve Bank.

On the occasion, the Board passed a condolence resolution in memory of former Director of the Central Board and the former ITC Chairman Y C Deveshwar who died recently.

According to the release, ...