ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Stock Market Outlook: Our dependence on US market limited now, next 10-15 years belong to India, says Anil Singhvi | Here's why
  • Toyota Hyryder Unveiled: Toyota India unveils new self-charging hybrid electric SUV in India; check details
  • Virtual Digital Assets: VDAs to attract 1% TDS from today; know what CBDT says about new norms
  • Gold Price Today: Yellow metal surges by over Rs 1000 as excise duty hiked to 12.5% - check gold rate in your city
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » India News

RBI to create specialised cadre for regulation of banks, NBFCs

The decision to create a specialised supervisory and regulatory cadre within the RBI was taken at the meeting of the Central Board of the apex bank headed by Governor Shaktikanta Das.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
RBI to create specialised cadre for regulation of banks, NBFCs
The board also reviewed the current economic situation, global and domestic challenges and various areas of operations of the central bank, the RBI said in a statement. Image source: Reuters

A specialised cadre will be created within the Reserve Bank for supervision and regulation of financial institutions, including banks and NBFCs, the RBI Tuesday said. This move assumes significance at a time when non-banking financial companies (NBFCs) are facing severe liquidity crunch in the wake of IL&FS crisis.

The decision to create a specialised supervisory and regulatory cadre within the RBI was taken at the meeting of the Central Board of the apex bank headed by Governor Shaktikanta Das. It was 576th meeting of the RBI Central Board.

The board also reviewed the current economic situation, global and domestic challenges and various areas of operations of the central bank, the RBI said in a statement.

"With a view to strengthening the supervision and regulation of commercial banks, urban cooperative banks and non-banking financial companies, the board decided to create a specialised supervisory and regulatory cadre within the RBI," it said.

Among other important matters, the board discussed the medium-term strategy document, covering, inter-alia, the mission statement and the vision statement.

"The board also reviewed the present structure of supervision in the RBI in the context of the growing diversity, complexities and interconnectedness within the Indian financial sector," the central bank added.

Issues related to the currency management and banker to government functions of the RBI also came up for discussion.

Deputy Governors N S Vishwanathan, Viral V Acharya, B P Kanungo and Mahesh Kumar Jain besides RBI's Central Board of Directors Bharat Doshi, Sudhir Mankad, Manish Sabharwal, Satish Marathe, Swaminathan Gurumurthy, Revathy Iyer and Sachin Chaturvedi attended the meet.

The government directors Subhash Chandra Garg, Finance Secretary and Rajiv Kumar, Secretary, Department of Financial Services also attended the meeting.

Earlier this month, Corporate Affairs Secretary Injeti Srinivas in an interview to PTI had said that the NBFC sector was facing issues of credit squeeze, over-leveraging and misadventures by some large entities.

"There is an imminent crisis in the NBFC sector. There is a credit squeeze, over-leveraging, excessive concentration, massive mismatch between assets and liabilities, coupled with some misadventures by some very large entities, which is a perfect recipe for disaster," Srinivas had said.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Reserve Bank of IndiaNBFC
Written By: PTI
Updated: Tue, May 21, 2019
11:35 pm
Chennai, PTI
RELATED NEWS
Big tech firms offering financial services pose risk to financial stability: RBI Big tech firms offering financial services pose risk to financial stability: RBI
Fintech's halt PPI loan, buy now pay later services as RBI restrictions posing challenges Fintech's halt PPI loan, buy now pay later services as RBI restrictions posing challenges
RBI extends implementation of card tokenisation norms by 3 months; deadline extended till 30 September RBI extends implementation of card tokenisation norms by 3 months; deadline extended till 30 September
RBI stops non-bank PPI issuers from loading wallets, cards via credit lines RBI stops non-bank PPI issuers from loading wallets, cards via credit lines
First tranche of 2022-23 gold bonds to open for subscription on Jun 20 First tranche of 2022-23 gold bonds to open for subscription on Jun 20

LATEST NEWS

Gold jumps Rs 1,088 amid import duty hike

Oppo Reno 8 series India launch confirmed; likely to release on July 21 - Check details

EXCLUSIVE: Start investing in large-cap stocks, Invest in IT, Auto, Capital Goods, and Private Bank stocks says the market expert

Why is the rupee falling? Zee Business reveals reasons

Rupee VS Dollar: Rupee gains 12 paise to close at 78.94 against US dollar

Crisil cuts FY23 GDP growth estimate to 7.3%

Dalal Street Corner: Market ends with marginal cuts this week; FMCG gains, Consumer Durables decline—What should investors do on Monday?

June GST collection at Rs 1.44 lakh crore; 2nd highest since implementation

Govt warns Ed-tech companies against unfair trade practices

WhatsApp update: Time limit to delete messages to be extended soon !- Check all details

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV