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RBI revamps departments as financial scams continue

Nov 04, 2019 10:40 IST

Under attack for not being able to prevent scams in the banking sector, the RBI has reorganized its supervisory and regulatory functions into two departments . The aim is to deal more effectively with potential systemic risk. The central bank had separate departments for supervisory functions as well as regulatory functions which have now been integrated into two unified departments. The development follows the RBI central board's decision to create separate supervisory and regulatory cadre.

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