........Former RBI Deputy Governor KC Chakrabarty in 2012 had submitted a report on the review of supervisory processes for commercial banks, and had suggested replacing the present compliance-based and transactiontesting approach (CAMELS) with the risk-based supervision (RBS) system. Several jurisdictions across the globe have adopted variations of the riskbased supervision. The RBI had, in the past, made several failed attempts to migrate to the RBS supervision. It had first tried to introduc ..
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