Last but not the least, the Board for Financial Supervision, constituted in 1994 under the Chairmanship of the Governor, RBI has been the guiding force in securing the transformation in the regulatory and supervisory apparatus of the banking system.
While the multi-dimensional regulatory and supervisory measures are justifiably reflected in the significantly improved prudential parameters of the Indian banking system, be it the level of NPAs or the capital adequacy ratios, there is hardly any room for complacence.