To further refine and bench mark supervisory policies and processes with international best practices, a Steering Committee has been set up to examine the entire gamut of supervisory policy, processes ,rating methodology, etc. 50. Reserve Bank of India recognizes that the quality of supervision of SIFIs would be extended to other banks/FIs on a risk based approach.
The same applies to the requirement to avoid excessive deficits, laid down in Article 104 of the Treaty, and to the reference values of 3% and 60% for the deficit and debt-to-GDP ratios respectively, specified in the Protocol on the excessive deficit procedure annexed to the Treaty. These are the foundations for trust and confidence in EMU.