Indian central bank to set up new supervisory body
Move follows tension between RBI and government over banking supervision
The Reserve Bank of India is set to create a specialised in-house supervisory and regulatory body, it announced on May 21.
In a statement, the RBI said the move aimed to strengthen its supervision of commercial and co-operative banks, and non-bank financial institutions. It said the reform would help it cope with the financial sector’s growing diversity, complexities and interconnectedness.
Earlier this year, Shaktikanta Das, in his first remarks as governor, said he intended to preserve
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