Supervisory college for SBI, ICICI Bank set up
The Reserve Bank of India (RBI) has set up a supervisory
college for State Bank of India (SBI) and ICICI Bank.
The move is aimed to deal with supervisory issues revolving around these banks, and establish a cooperation mechanism for cross-border supervision.
Supervisory colleges have evolved the world over as an important component of effective supervisory oversight of an international banking group.
This mechanism was developed with the aim of reducing supervisory overlap, and filling in supervisory gaps for better supervisory co-operation enunciated in Basel II framework,” said the RBI. For SBI, there are nine host country supervisors, while ICICI Bank has seven.
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