The joint ventures (JVs) and subsidiaries of banks might come under the Reserve Bank of India’s purview if a high-level committee’s recommendations are implemented. At present, the central bank can only monitor banks’ subsidiaries and JVs, but it does not have supervisory power. The committee, chaired by RBI Deputy Governor K C Chakrabarty, said: “Along with focus on supervision of banks on a solo basis, RBI should also focus on consolidated supervision of banking groups.”...........
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