Daily Current Affairs Article 12th January 2021: The Reserve Bank of India (RBI) has set up an academic advisory council with former deputy governor N S Vishwanathan as the chairperson to advise the full-time director of the central bank’s College of Supervisors (CoS).
As part of the measures to further strengthen Supervision over regulated entities, Reserve Bank had set up a College of Supervisors (CoS) to augment and reinforce supervisory skills among its regulatory and supervisory staff both at entry level and on a continuous basis.
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While the CoS was functioning in a limited way in virtual mode since May 2020, it is now being fully operationalised. This will further contribute to effective oversight of the regulated entities by augmenting and ensuring a consistent quality of supervisory resources pool.
The CoS will have a full-time Director supported by an Academic Advisory Council (AAC).
The AAC will identify areas where skill building/up-skilling are required, plan and develop curricula of all programmes, benchmark the programmes with international standards/best practices, develop appropriate teaching methods, etc.
S. Viswanathan, Former Deputy Governor, RBI has been appointed as the Chairperson of AAC.
Rabi Narayan Mishra, former Executive Director, RBI has been appointed as the Director of CoS.
