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The RBI opened a second supervisory college for ICICI Bank Ltd in Mumbai on Thursday as part of supervision of cross border operations of Indian banks abroad.
The RBI sets up supervisory colleges for banks which have good international presence. The main objectives of such colleges 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.
The first supervisory college for ICICI bank was set up in December, 2012. The RBI had set up supervisory college for State Bank of India in December 2012, while for Bank of Baroda, Bank of India and Axis Bank were set up in February and September 2014, respectively.
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