The apex bank – RBI has set up a new supervisory college for the ICICI bank. Recently the bank has set up the same for the Axis bank. As a part of supervision of cross border operations of Indian banks abroad last week the bank set up the supervisory college for ICICI bank in Mumbai.
This is the second supervisory college of the ICICI bank. Prior to this the bank has established one such college for the bank in the year2012. The purpose of setting up these colleges is to enhance the understanding of the risk profile of the banking group as well as to enhance the exchange of information and cooperation among the supervisors.
These colleges are especially organised for the banks having good presence outside the country. RBI being the apex bank needs to ensure that the banks work well overseas as well.