Current context: Reserve Bank of India has reorganised the regulatory and supervisory Departments and has created separate supervisory and regulatory cadre.
a. RBI has made a unified Department of Supervision of financial entities
b. RBI has made a unified Department of Regulation of financial entities
c. Both a and b
d. None of the above
- Currently, the Supervision of financial sector entities is undertaken in 3 separate categories:
- Department of Banking Supervision
- Department of Non-Banking Supervision
- Department of Co-operative Bank Supervision
- Similarly, the Regulation of financial sector entities is undertaken in 3 separate categories:
- Department of Banking Regulation
- Department of Non-Banking Regulation
- Department of Cooperative Banking Regulation
- RBI has now adopted a holistic approach to supervision and regulation of the regulated entities to address growing complexities, size and inter-connectedness and to deal with potential systemic risk.
- The supervision function for all financial entities is integrated into a unified Department of Supervision and the regulatory functions into a unified Department of Regulation with effect from 1st November 2019.
Question:
Q.1 Choose the correct statement in the context of reorganisation done by the RBI in its regulatory and supervisory Departments?a. RBI has made a unified Department of Supervision of financial entities
b. RBI has made a unified Department of Regulation of financial entities
c. Both a and b
d. None of the above
