The Reserve Bank of India (RBI) has formed a six-member academic advisory council to support its newly set up college of supervisors (CoS).

The CoS will be headed by former RBI deputy governor NS Viswanathan while former RBI executive director Rabi Narayan Mishra has been appointed as administrative head and non-member director.

The other members include former State Bank of India managing director Arijit Basu, former HDFC Bank deputy managing director Paresh Sukhankar, IIM Bangalore professor S Raghunath, IIM Ahmedabad professor Tadhagatha Bandyophyay and IGIDR professor Subrata Sarkar.

The RBI had set up a CoS to augment and reinforce supervisory skills among its regulatory and supervisory staff both at entry level and on a continuous basis. This was done to facilitate the development of unified and focused supervision by providing training and other developmental inputs to the concerned staff, the RBI said in a release.

The CoS was functioning in a limited way in virtual mode since May 2020. But it is now being fully operationalised.

“The AAC will identify areas where skill building/up-skilling are required, plan and develop curricula of all programmes, benchmark the programmes with international standards/best practices and develop appropriate teaching methods,” RBI said.

The full-fledged operationalisation of the CoS will further contribute to effective oversight of the regulated entities by augmenting and ensuring a consistent quality of supervisory resources pool, the RBI said.