RBI Sets up Enforcement Department

7/20/2017
  • RBI has set up an Enforcement Department which would serve as a centralised department to speed up regulatory compliance.
  • EFD has been entrusted with the responsibility of enforcement action on commercial banks.
  • EFD has been set up to separate those who oversee the possible rule breaches and those who decide on punitive actions so that enforcement process operates fairly.
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