<h1>RBI Forms Shadow Banking Implementation Group to Analyze Risks and Reform Needs in Shadow Banking Sector.</h1> The Reserve Bank of India has formed the Shadow Banking Implementation Group (SBIG) to conduct a detailed analysis of shadow banks and assess their risks to the formal financial sector. Chaired by the RBI, the group includes members from various governmental and financial regulatory bodies. SBIG's tasks involve evaluating compliance with Financial Stability Board guidelines, identifying reform gaps, and creating a roadmap for implementing necessary reforms. The group will also consider the publication of a formal approach to reforms and establish a data repository for the shadow banking sector. The ongoing assessment is monitored by an Inter Regulatory Technical Group.