What is RBI CA circular?
This Circular consolidates earlier instructions issued by the Reserve Bank of India, on opening and operation of current accounts and CC/OD accounts with a view to enforce credit discipline amongst the borrowers as well as to facilitate better monitoring by the lenders..
What is the RBI circular on security?
The RBI circular calls for the establishment of a Cyber Crisis Management Plan to address the full life cycle of detection, response, containment and recovery.
The circular lays emphasis on protecting customer data and protecting customers against financial crimes..
What is the RBI compliance function circular?
Also, the RBI circular issued in 2007, states that the compliance policy should focus on the compliance function including regulatory compliance, statutory compliance, compliance with fair practice codes and other codes etc.
This again overlaps with the role of the Company Secretary..
What is the RBI corporate governance circular?
The RBI has, on October 11, 2022, issued a circular, amending the extant regulatory framework for Asset Reconstruction Companies ('ARCs') and introducing corporate governance norms and other aspects through this circular.
Considering the importance of ARCs, a need was felt to review the extant regulatory framework.Oct 12, 2022.
What is the role of RBI in corporate governance in India?
RBI in India plays leading role in formulating and implementing corporate governance.
The corporate governance mechanism as followed by Reserve Bank of India is based on three categories for governing the banks.
They are: (i) Disclosure and transparency, (ii) Off-site surveillance, (iii) Prompt Corrective Action..
- The purpose of this Code is to help banks to implement effective corporate governance mechanisms characterized by separation of responsibilities, effective decision making, protection of shareholders' rights, effective treatment of conflicts of interest, public disclosure of information, cheks and balances and so on,
- This Circular consolidates earlier instructions issued by the Reserve Bank of India, on opening and operation of current accounts and CC/OD accounts with a view to enforce credit discipline amongst the borrowers as well as to facilitate better monitoring by the lenders.