Reserve Bank of India rejigs regulatory and supervision departments

The restructuring will give categorised supervisory approach to all the RBI supervised entities linked to their size, complexity.

The different departments responsible for supervision and regulation of banks, non-banks and co-operative banks have been unified by the Reserve Bank of India (RBI) under the Department of Supervision and Department of Regulation, with effect from November 1.

Earlier, financial sector supervision was undertaken through three separate departments — the Department of banking supervision, Department of non-banking supervision and Department of co-operative bank supervision.  Similarly, the regulatory powers of the RBI over banks, NBFCs and cooperative banks were carried out through three separate departments — the Department of banking regulation, Department of non-banking regulation and Department of cooperative banking regulation.

The RBI