Academic advisory council for College Of Supervisors (COS) set up

  • IASbaba
  • January 12, 2021
  • 0
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Academic advisory council for College Of Supervisors (COS) set up

Part of: GS Prelims and GS-III – Economy

In news 

  • The 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).
  • Functions: (1) Identify areas where skill building/up-skilling is required; (2) Plan and develop curricula of all programmes; (3) Benchmark the programmes with international standards/best practices; (4) Develop appropriate teaching methods, etc.

Important value additions 

College of Supervisors (CoS)

  • Set up by: RBI
  • It was set up as part of the measures to further strengthen Supervision over regulated entities.
  • Objective: To augment and reinforce supervisory skills among its regulatory and supervisory staff both at entry level and on a continuous basis.
  • 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).
  • Rabi Narayan Mishra, former Executive Director, RBI has been appointed as the Director of CoS.

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