While every effort is made by the Reserve Bank in this regard, there is considerable benefit in introducing a system of feedback from the supervised banks on the adequacy, appropriateness and quality of supervision. This would help in rating of our supervisory performance from time to time and obtain suggestions for improvements from a range of banks, large and small foreign and local.
In the light of discussions in the RBI earlier this week, a decision has been taken to introduce such a system of feedback on supervision from the supervised on a regular and continuing basis. We expect to seek further guidance from Board for Financial Supervision, due to hold its meeting next week and finalise an ongoing system of feedback.