RBI Staff

The Reserve Bank is in the process of setting up a 'college of supervisors' to augment the supervisory skills of its key personnel, governor Shaktikanta Das has said. The development can be attributed as a response to the massive scam at Punjab & Maharashtra Cooperative (PMC) Bank, which for three years hoodwinked the regulator with cooked up books-something the annual inspection by the RBI supervisors could not notice and take preventive action. The RBI has already created a unified department of supervision and a unified department of regulation from November 1 this year, which will strengthen the oversight of commercial banks, cooperative banks and NBFCs, Das has said. The governor was addressing a closed-door conference on '50 years of bank nationalisation' organised by Ahmedabad University over the weekend. "It is our endeavour to update the knowledge and skill levels of supervisors on a continuous basis. We are adopting a multi-pronged approach in this aspect. .

Adequacy of resources doesn't stand in the way of pension revision in the RBI

Central bank has been trying to update the pension drawn by its retirees but govt remains non-committal