RBI to set up separate Enforcement department

The Reserve Bank of India (RBI) has decided to set up a separate enforcement department to oversee possible breaches of rules and take punitive actions against those who violate them. The department will develop a broad policy for enforcement and initiate action against the regulated entities for violation consistent with such policy. It will serve as a centralised wing to deal with banks only for enforcement action.

Month: Current Affairs - April, 2017