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Our goal is to make RBI’s supervision a global model
RBI Governor Shaktikanta Das(File Photo)
RBI Governor Shaktikanta Das says ‘necessary policy actions’ are on the anvil for positioning the Reserve Bank as a model central bank of the Global South
Mumbai: RBI Governor Shaktikanta Das on Thursday said that ‘necessary policy actions’ are on the anvil for positioning the Reserve Bank as a model central bank of the Global South.
“As the Reserve Bank approaches its centenary year, we have drawn up strategies that will gear it up to remain future-ready for India’s fast-growing economy,” Das said at the Global Conference on Financial Resilience.
“Our goal is to make the Reserve Bank’s supervision a global model, by building a ‘Through the Cycle’ Risk Assessment Framework with continuous Horizon Scanning and a Holistic Risk Assessment. It also envisages having a more customer-centric framework that protects and promotes customers’ interest by improving the conduct of supervised entities,” he said.
He said that the Reserve Bank has significantly strengthened its supervisory systems, transitioning beyond an entity-focused approach to a more thematic and activity-based approach.
“We now look at the sustainability of business models of banks and NBFCs. Root cause analysis of problems and vulnerabilities is undertaken. Advance action is initiated wherever we notice or smell a crisis,” he remarked.
