Photographs The second Supervisory College for State Bank of India was held in Mumbai on December 08, 2014. Shri S.S. Mundra, Deputy Governor, Reserve Bank of India inaugurated the supervisory college. In his address, Shri Mundra briefly touched upon the set-up of Supervisory Colleges and then presented a bird’s eye view of the banking system in India and the tools for the supervision of commercial banks by RBI. He mentioned that though none of the Indian banks qualify as a global systemically important bank (G-SIB), some of the larger ones are systemically important for us and SBI being the largest Indian bank plays a critical role in our banking system. The Deputy Governor concluded by saying that today’s meeting is only an initiation. Interaction amongst the college members and the banking group should be on a continuous basis for evolving a much better supervisory environment. Shri P.R. Ravi Mohan, Chief General Manager-in-Charge, Department of Banking Supervision, Reserve Bank of India highlighted the recent initiatives taken by the Reserve Bank on Risk Based Supervision (RBS), Automated Data Flow and Central Repository of Information on Large Credits (CRILC) while Shri Sudarshan Sen, Chief General Manager in-Charge of the Department of Banking Regulation updated the members on the latest regulatory changes. Smt Arundhati Bhattacharya, Chairperson, State Bank of India made a presentation to the College about the bank, including its international operations and responded to various queries from the host supervisors. During the day-long event, the host and home supervisors deliberated on many issues of mutual concern and the host supervisors shared their views on the presence and operations of State Bank of India in their respective countries. Twenty three supervisors from fourteen overseas jurisdictions participated in the College for State Bank of India. Representatives from Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority (IRDA) & Pension Fund Regulatory and Development Authority (PFRDA) also participated in the College. 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. 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. The Reserve Bank had, in December 2012, set up the first Supervisory Colleges for State Bank of India and ICICI Bank Ltd. The Colleges for Bank of Baroda, Bank of India and Axis Bank Ltd were set up in February and September 2014, respectively. It is expected that the Colleges would enhance the mutual trust and co-operation among the supervisors. Sangeeta Das
Director Press Release : 2014-2015/1191 |