Mumbai, January 6: The Reserve Bank on Wednesday said its College of Supervisors (CoS), which was functioning in a limited way in virtual mode since May 2020, is now being fully operationalised with full-time director supported by an Academic Advisory Council (AAC).

As part of the measures to further strengthen supervision over regulated entities, the 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.

This, the RBI said, was done to facilitate the development of unified and focused supervision by providing training and other developmental inputs to the concerned staff. FM Nirmala Sitharaman Reviews Progress of Projects Worth Rs 3.6 Lakh Crore Under National Infrastructure Pipeline.

"While the CoS was functioning in a limited way in virtual mode since May 2020, it is now being fully operationalised. The CoS will have a full-time director supported by an Academic Advisory Council (AAC)," the RBI said.

Rabi Narayan Mishra, former Executive Director of RBI, has been appointed as the director of the CoS.

The six-member Academic Advisory Council (AAC), chaired by RBI former Deputy Governor N S Viswanathan, 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, and develop appropriate teaching methods, among others.

Other members of AAC are: Arijit Basu (former MD, SBI), Paresh Sukthankar (former DMD, HDFC Bank), Prof. S Raghunath (IIM Bangalore), Prof. Tathagata Bandyopadhyay (IIM, Ahmedabad) and Prof. Subrata Sarkar (IGIDR, Mumbai).

The full-fledged operationalisation of the CoS will further contribute to effective oversight of the regulated entities by augmenting and ensuring a consistent quality of supervisory resources pool, the RBI said.

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