RBI plans risk management panel

The Reserve Bank of India (RBI) said it is looking at setting up a separate committee to study and strengthen the operational risk management of banks, as part of the overall implementation of the Basel-II norms.

This will be in addition to the existing committee to oversee the Basel-II implementation.

Operational risk, as a concept, is fairly new. "As a concept, this has been recently introduced in the Indian banking system. Therefore this stream needs specific attention," an official source