NEW DELHI :
The Reserve Bank of India's Central Board met today in Chennai and reviewed current economic situation, global and domestic challenges and various areas of operations of the central bank. With a view to strengthen the supervision and regulation of commercial banks, urban cooperative banks and Non-Banking Financial Companies (NBFCs), the Board decided to create a specialised supervisory and regulatory cadre within the RBI.
According to a press release, the Board also reviewed the present structure of supervision in RBI in the context of the growing diversity, complexities and interconnectedness within the Indian financial sector.
Under the chairmanship of Governor Shaktikanta Das, the Board discussed issues related to the currency management and Banker to Government functions of the RBI.