30 banks shifting to risk-based supervision.
Thirty large banks in India have informed the Reserve Bank of India (RBI), the central banking authority in India, that they are ready to switch to the new uniform risk-based supervision system from April 1, 2013.
This system will enable them to assess their risks on a real-time basis. It will also bring in a uniform methodology to check the health of the banking system, as against the presently used CAMELS framework which follows a compliance based and transaction-testing approach. The new system will bring banking supervision in India on par with the best practices in the world.