urban co-operative banks (UCBs) Current Affairs, GK & News

RBI extends Risk Based Internal Audit rules to HFCs

Reserve Bank of India (RBI) has extended Risk-Based Internal Audit (RBIA) rules to all deposit-taking and non-deposit taking HFCs (Housing Finance Companies) who are having assets above Rs 5,000 crore. These rules will be effective from June 30, 2022. Highlights Earlier on February 3, RBI had made these rules applicable to other entities as well. ..

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RBI makes Risk-Based Internal Audit Mandatory

The Reserve Bank of India (RBI) on has introduced a risk-based internal audit (RBIA) system. It has made it mandatory for select non-banking financial companies and urban co-operative banks (UCBs). What has changed now? As per the norms, all the deposit-taking non-banking financial companies (NBFCs) with the asset size of Rs 5,000 crore will have ..

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