https://www.taxtmi.com/news?id=20935 The Reserve Bank of India holds expansive supervisory authority under the Banking Regulation Act to inspect banks, examine officers, scrutinise affairs, issue management directions, call for information, determine advance policy, direct special audits and initiate insolvency processes; additionally it exercises inspection powers under the Foreign Exchange Management Act, maintains central credit and fraud repositories with reporting and provisioning norms, and has specific oversight roles over nationalised banks and the State Bank of India including nominee directorships, auditor approval and director appointments. en-us Tue, 08 Jan 2019 18:53:15 +0530 Tue, 08 Jan 2019 18:53:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=20935 The Reserve Bank of India holds expansive supervisory authority under the Banking Regulation Act to inspect banks, examine officers, scrutinise affairs, issue management directions, call for information, determine advance policy, direct special audits and initiate insolvency processes; additionally it exercises inspection powers under the Foreign Exchange Management Act, maintains central credit and fraud repositories with reporting and provisioning norms, and has specific oversight roles over nationalised banks and the State Bank of India including nominee directorships, auditor approval and director appointments. News - Tue, 08 Jan 2019 18:53:15 +0530 https://www.taxtmi.com/news?id=20935