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One-letter change in Verma's address: from SBI to RBI

Former State Bank of India chairman Maya Shankar Verma was on Monday appointed as an advisor to the Reserve Bank of India.

Verma, who earlier this month retired from SBI, would act as an advisor and assist the RBI in strengthening the inspection and supervisory set-up of the banking system.

The apex bank had approached Verma, who has around four decades of experience in banking, to become an advisor and work on policy initiatives required to reduce incidence of non-performing assets, problems related to inter-bank reconciliation of accounts and implementation of the RBI directions for reducing procedural hassles in bank credit to exporters, agriculture and small industries.

According to the RBI, Verma will liaise closely with chairman, senior staff of commercial banks and other banking experts.

UNI

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