RBI unveils draft bank framework for risk compliance and audits
Business
The Reserve Bank of India (RBI) is rolling out a new draft framework to help banks manage risks, stay compliant, and keep their internal audits sharp.
The goal? Make rules clearer, cut out old paperwork, and boost overall governance.
RBI is inviting everyone's opinions before these changes kick in from January 1, 2027.
Banks to set clear governance roles
Banks will need clear roles for risk management, compliance, and internal audit, each led by dedicated officers like a chief risk officer or head of internal audit.
Boards are expected to play a bigger part too, making sure these teams have what they need and operate independently.
Regular policy reviews will help keep things running smoothly and transparently across the sector.