Reserve Bank to create specialised cadre for supervision and regulation of banks, NBFCs

Chennai: A specialised cadre will be created within the Reserve Bank for supervision and regulation of financial institutions, including banks and NBFCs, the RBI Tuesday said.

This move assumes significance at a time when non-banking financial companies (NBFCs) are facing severe liquidity crunch in the wake of IL&FS crisis.

The decision to create a specialised supervisory and regulatory cadre within the RBI was taken at the meeting of the Central Board of the apex bank headed by Governor Shaktikanta Das. It was 576th meeting of the RBI Central Board.