The Reserve Bank of India (RBI) has shortlisted seven global consultancy firms. Based on the scrutiny/evaluation set out in the expressions of interest (EOI) document, the central bank has shortlisted seven applicants for participating in the request for proposal process (RFP) for the selection of consultant(s).
The seven firms are: Accenture Solutions Private Limited, Boston Consulting Group (India) Pvt Ltd, Deloitte Touche Tohmatsu India LLP, Ernst and Young LLP, KPMG Assurance and Consulting Services LLP, McKinsey and Company and Pricewaterhouse Coopers Pvt Ltd.
The supervisory jurisdictions of the RBI extends over banks, urban cooperative banks, NBFCs, payment banks, small finance banks, local area banks, credit information companies and select all Indian financial institutions, with the objective of assessing their financial soundness, solvency, asset quality, governance framework, liquidity, and operational viability to protect depositors’ interests and financial stability.
The RBI undertakes continuous supervision of SEs with the help of on-site inspections and off-site monitoring. The central bank is already using AI and ML in supervisory processes, and is now aiming to upscale it to ensure that the benefits of advanced analytics can accrue to the Department of Supervision in the RBI.
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