Reserve Bank of India

07.04.2016

Banking

Oversight of Government Business in Agency Banks

MANU/RMIC/0060/2016

The Reserve Bank of India put in place a new system of oversight of government business conducted with agency banks. The new enlarged review will now also cover government business at Head Offices of agency banks; review was previously limited to focal point branches and centralised pension processing centres. Existing practices of issuing reports at the end of the review will also be discontinued. The Bank will have intervallic interactions with senior executives of the banks dealing with government business.

Tags : Government business agency bank inspection

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