RBI RETAINS ‘TOO BIG TO FAIL’ TAG FOR SBI, ICICI

MUMBAI: The Reserve Bank of India on Thursday retained ‘too big to fail’ tag for the stateowned State Bank of India and private lender ICICI Bank for the second year in a row, calling them systemically important banks for 2016 requiring a higher level of supervision. In 2015, these two were identified for the first time as the domestic systemically important banks. Systemically important banks are subjected to higher levels of supervision to prevent disruption to financial services in case of any failure.