RBI opens supervisory college for ICICI Bank

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RBI opens supervisory college for ICICI Bank
The Reserve Bank of India has opened second supervisory college for country's largest private sector lender ICICI Bank in Mumbai on September 04, 2014. The central bank had set up the first Supervisory College for ICICI Bank in December, 2012.

Inaugurating the forum, RBI, Deputy Governor, Harun R. Khan stated that the synergy which was developed among the supervisors during the first supervisory college of ICICI Bank Ltd. in December 2012, was taken forward in its desired spirit by all the supervisors, which in fact has set the platform for the second Supervisory College today.

The Reserve Bank, as the home country supervisor, has an immense responsibility in fulfilling the resolutions taken at the first supervisory college and meeting the aspirations of the participants, he said.

Nine supervisors from six overseas jurisdictions participated in the meeting of the Supervisory College for ICICI 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. 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 College for State Bank of India. 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.

Read more about: icici bank, rbi
Story first published: Monday, September 8, 2014, 9:20 [IST]
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