<h1>IMF-World Bank Review Praises India's Banking Progress; Urges Better Regulatory Coordination and International Practice Alignment.</h1> A joint IMF-World Bank team conducted a comprehensive review of India's banking regulation and supervision, recognizing significant progress in creating a stable financial system. The Detailed Assessment Report highlighted manageable vulnerabilities but identified gaps in regulatory implementation, such as supervisory information sharing and consolidated supervision of financial conglomerates. The Reserve Bank of India (RBI) has since improved international cooperation, signed Memorandums of Understanding with various jurisdictions, and conducted overseas inspections. Efforts to enhance regulatory coordination and supervision continue, with the Financial Stability and Development Council and its sub-committees playing key roles. The RBI acknowledges the need for further alignment with international practices.