The Reserve Bank of India set up the Supervisory College for Axis Bank Ltd. on September 03, 2014 in Mumbai. Shri R Gandhi, Deputy Governor, Reserve Bank of India inaugurated the College.
Shri R Gandhi in his address stated that some of the Indian banks have started touching the lives of people and enterprises in overseas jurisdictions and have assumed a certain degree of relevance for the host nations’ economy. It casts upon the Reserve Bank as the home country supervisor an immense responsibility culminating in the setting up of supervisory colleges, through which exchange of supervisory information and perceptions becomes easy.
During the day-long event, the host and home supervisors deliberated on many issues of mutual concern and the host supervisors shared their views on the presence and operations of Axis Bank Ltd. in their respective countries with the Reserve Bank. The top management of Axis Bank Ltd., led by Smt. Shikha Sharma Managing Director and Chief Executive Officer, made a presentation to the College about the bank in general and its international presence in particular and took questions from the host supervisors. Shri P R Ravi Mohan, Chief General Manager-in-Charge, Reserve Bank of India, Department of Banking Supervision, presided over the deliberations of the College and gave a presentation about the Supervisory role of the Reserve Bank with an insight into the new approach in supervision, that is, Risk Based Supervision. Shri Sudharshan Sen, Chief General Manager in-Charge, Department of Banking Operations and Development gave a presentation on the regulatory set up in the country.
Nine supervisors from five overseas jurisdictions participated in the Supervisory College for Axis Bank Ltd.
The Reserve Bank of India has set up, as part of supervision of cross border operations of Indian banks abroad, Supervisory Colleges for banks which have good international presence. It has set up such a College for ICICI Bank and State Bank of India in December 2012 and for Bank of Baroda and Bank of India in February 2014. The main objectives of Supervisory College are to enhance information exchange and cooperation among supervisors, to improve understanding of the risk profile of the banking group and thereby facilitate more effective supervision of internationally active banks. It is expected that the colleges would enhance the mutual trust and co-operation among the supervisors.
Principal Chief General Manager
Press Release : 2014-2015/470