RBI sets up supervisory colleges for Axis
Bank
04/09/2014 11:25
The Reserve Bank of India has set up a supervisory college for Axis Bank on September 03, 2014 in Mumbai, according to an official press release. Inaugurating the college, R Gandhi stated that some of the Indian banks have started touching the lives of people and enterprises in overseas jurisdictions and have assumed a certain degree of relevance for the host nations’ economy. “It casts upon the Reserve Bank as the home country supervisor an immense responsibility culminating in the setting up of supervisory colleges, through which exchange of supervisory information and perceptions becomes easy,” he said. Nine supervisors from five overseas jurisdictions participated in the Supervisory College for Axis Bank Ltd. The Reserve Bank of India has set up, as part of supervision of cross border operations of Indian banks abroad, supervisory colleges for banks which have good international presence. It has set up such a college for ICICI Bank and State Bank of India in December 2012 and for Bank of Baroda and Bank of India in February 2014. The main objectives of Supervisory College are to enhance information exchange and cooperation among supervisors, to improve understanding of the risk profile of the banking group and thereby facilitate more effective supervision of internationally active banks. It is expected that the colleges would enhance the mutual trust and co-operation among the supervisors.
04/09/2014 11:25
The Reserve Bank of India has set up a supervisory college for Axis Bank on September 03, 2014 in Mumbai, according to an official press release. Inaugurating the college, R Gandhi stated that some of the Indian banks have started touching the lives of people and enterprises in overseas jurisdictions and have assumed a certain degree of relevance for the host nations’ economy. “It casts upon the Reserve Bank as the home country supervisor an immense responsibility culminating in the setting up of supervisory colleges, through which exchange of supervisory information and perceptions becomes easy,” he said. Nine supervisors from five overseas jurisdictions participated in the Supervisory College for Axis Bank Ltd. The Reserve Bank of India has set up, as part of supervision of cross border operations of Indian banks abroad, supervisory colleges for banks which have good international presence. It has set up such a college for ICICI Bank and State Bank of India in December 2012 and for Bank of Baroda and Bank of India in February 2014. The main objectives of Supervisory College are to enhance information exchange and cooperation among supervisors, to improve understanding of the risk profile of the banking group and thereby facilitate more effective supervision of internationally active banks. It is expected that the colleges would enhance the mutual trust and co-operation among the supervisors.
