Certain other regulatory/supervisory measures introduced by RBI in recent times to improve the financial sector are: •  Framework for D-SIBs  •  Introduction of a risk-based approach to supervision  •  MOU with supervisors of 29 countries for promotion of greater supervisory cooperation and information exchange  •  Setting up of supervisory colleges for Indian banks with significant cross-border assets  •  Framework for progressive alignment of regulations for the non-banking finance companies with that applicable to banks for preventing instances of regulatory arbitrage  •  Discussion paper on way forward for urban co-operative banks  •  Discussion paper on relaxation in ECB norms  •  Promulgation of a Charter of Customer Rights for implementation by banks  •  Setting up of Financial Benchmarks India Pvt Ltd, with the objective of bringing transparency in the benchmark rate setting process.
11. Apart from asset quality challenges that the banking system is faced with currently, other key challenges that the system faces are on capital and human resources front.