The Reserve Bank on Tuesday said that the public sector State Bank of India (SBI), private sector HDFC Bank and ICICI Bank are domestic systemically important bank banks or institutions and are so vast that they cannot be allowed to fail. .
SIBs are subjected to high-level monitoring of banks and are closely monitored to maintain the functioning of these banks and prevent any disturbances in financial services. The Reserve Bank released the system regarding systemically important banks in July 2014.
D- The name of the banks which come under the purview of SIB is recorded. This system has been in operation since 2015 and these banks have been placed under the purview of appropriate laws in terms of importance in their system. “SBI, ICIC Bank and HDFC Bank remain recognized as important banks in the domestic system and will remain under the same framework in the list of such banks in 2018,” the Reserve Bank said in a toy.
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