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Date : Feb 04, 2014
RBI sets up Supervisory Colleges for Bank of India and Bank of Baroda

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The Reserve Bank of India held Supervisory Colleges for Bank of India and Bank of Baroda on February 3 and 4, 2014, respectively, in Mumbai. Dr. K C Chakrabarty, Deputy Governor, Reserve Bank of India inaugurated the Colleges.

Dr. Chakrabarty in his address 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. Hence, it casts upon the Reserve Bank as the home country supervisor an immense responsibility which culminated in the setting up of supervisory colleges through which exchange of supervisory information and perceptions becomes easy.

During the day-long events held on February 3 and 4, 2014, 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 Bank of India and Bank of Baroda in their respective countries with the Reserve Bank. Smt. V R Iyer, Chairperson and Managing Director Bank of India and Shri S S Mundra, Chairman and Managing Director, Bank of Baroda made presentations to the respective Colleges about their banks in general and their international presence in particular and took questions from the host supervisors. Shri G Gopalakrishna, Executive Director, Reserve Bank of India presided over the deliberations of both the Colleges.

Thirteen supervisors from eight jurisdictions participated in the Supervisory College for Bank of India. Twelve Supervisors from seven overseas supervisory agencies participated in the Supervisory College for Bank of Baroda.

Background

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 Supervisory Colleges for ICICI Bank and State Bank of India. It is expected that the colleges would enhance the mutual trust and co-operation among the supervisors.

Alpana Killawala
Principal Chief General Manager

Press Release : 2013-2014/1559


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