RBI establishes supervisory colleges for SBI, ICICI Bank

Reserve Bank of India (RBI) establishes supervisory colleges for SBI, ICICI Bank.

Reserve Bank of India ( RBI) has set up a supervisory college each for the State Bank of India ( SBI) and ICICI Bank, to deal with “supervisory issues revolving around these banks and establish a cooperation mechanism for cross-border supervision”.

The central bank said in a statement that these banks were chosen because both have substantial cross-border presence and thus were chosen for the supervisory college.

While SBI is the largest bank in the country with the largest number of foreign officers among Indian banks, ICICI Bank is the largest private sector lender, with a significant presence abroad. The SBI will have nine host country supervisors, while ICICI Bank will have seven of them.

SBI Chairman Pratip Chaudhuri and ICICI’s managing director and CEO, Chanda Kochhar, led the teams of the respective banks in the first meeting.

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