SPECIALIZED SUPERVISORY AND REGULATORY CADRE (SSRC)

Jan. 24, 2020

The Reserve Bank of India (RBI) has decided to recruit 35% of the specialised supervisory and regulatory cadre (SSRC) from the market while the remaining 65% will be recruited via internal promotions.

About:

The Specialized Supervisory and Regulatory Cadre (SSRC) will comprise officers in Grade B to Executive Director level.
On November 1, 2019, RBI decided to reorganise its regulation and supervision departments. It merged the three regulatory departments (department of banking, non-banking and cooperative bank) into one and did likewise for the three supervisory departments.
As a result, there is only one supervisory department which looks after supervision of banks, NBFCs and cooperative banks and only one regulatory department for these three.
The move was aimed at dealing more effectively with potential systemic risk that could come about due to possible supervisory arbitrage and information asymmetry.

Source : The Hindu