Banking Sector Reforms

Specialized Supervisory and Regulatory Cadre (SSRC)

The RBI has decided to recruit 35% of the specialised supervisory and regulatory cadre from the market while the remaining 65% will be recruited via internal promotions.

Specialized Supervisory and Regulatory Cadre (SSRC)

  • The SSRC will comprise officers in Grade B to Executive Director level.
  • In Nov. last year RBI decided to reorganize its regulation and supervision departments.
  • It merged the three regulatory departments (department of bankingnon-banking and cooperative bank) into one and did likewise for the three supervisory departments.
  • As a result, there is only one supervisory department which looks after supervision of banks, NBFCs and cooperative banks and only one regulatory department for these three.
  • The move is aimed at dealing more effectively with potential systemic risk that could come about due to possible supervisory arbitrage and information asymmetry.

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