Reported by: banking|Updated: January 9, 2021
The Reserve Bank of India said it is fully operationalising a College of Supervisors (CoS) to further strengthen supervision over regulated entities. The Cos will be headed by former deputy governor N.S. Viswanathan and will have 5 other members – former State Bank of India Managing Director Arijit Basu, former HDFC Bank Deputy Managing Director Paresh Sukthankar, S. Raghunath of Bangalore IIM, Tadhagatha Bandyophyay of Ahmedabad IIM and Subrata Sarkar of IGIDR, Mumbai. The RBI said it had set up a CoS to augment and reinforce supervisory skills among its regulatory and supervisory staff both at entry level and on a continuous basis. This was done to facilitate the development of unified and focused supervision by providing training and other developmental inputs to the concerned staff. While the CoS was functioning in a limited way in virtual mode since May 2020, it is now being fully operationalized and it will have a full-time Director supported by an Academic Advisory Council, which will identify areas where skill building/up-skilling are required, plan and develop curricula of all programmes, benchmark the programs with international standards/best practices, develop appropriate teaching methods. Rabi Narayan Mishra, former Executive Director, RBI, has been appointed as the Director of CoS.