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Similarly, in India, the Reserve Bank of India (RBI) mandates that banks appoint a Chief Compliance Officer to oversee compliance with banking regulations and guidelines. In Chile, companies are required to have a Crime Prevention Officer who fulfills the role of a Compliance Officer, as they manage the Crime Prevention Model within the ...
Sir C. D. Deshmukh was the first Indian to serve as the governor. Sir Benegal Rama Rau was the longest serving governor. I. G. Patel, the fourteenth governor Manmohan Singh, the fifteenth governor, later served as the thirteenth prime minister of India Raghuram Rajan, the twenty-third governor Shaktikanta Das, the twenty-fifth governor Sanjay Malhotra, the twenty-sixth and the incumbent governor
The preamble of the Reserve Bank of India describes the basic functions of the reserve bank as: [13]...to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex ...
It would be necessary for chief executives and chief financial officers to establish and maintain internal controls and implement remediation and risk mitigation towards deficiencies in internal controls, among others. Clause VI (ii) of Clause 49 requires all companies to submit a quarterly compliance report to stock exchange in the prescribed ...
NIBM is governed by a Board, its highest policy-making body and, the governor of the Reserve Bank of India (RBI) is the chairman of the Governing Board. [1] The Governing Board includes representatives from the various member banks and educational institutes. Prof. Partha Ray [2] is the current director of the institute.
Compliance refers to adhering with the mandated boundaries (laws and regulations) and voluntary boundaries (company's policies, procedures, etc.). [ 7 ] [ 8 ] GRC is a discipline that aims to synchronize information and activity across governance, and compliance in order to operate more efficiently, enable effective information sharing, more ...
An Act to provide to the responsibility of the Central Government to ensure inter – generational equity in fiscal management and long-term macro-economic stability by achieving sufficient revenue surplus and removing fiscal impediments in the effective conduct of monetary policy and prudential debt management consistent with fiscal sustainability through limits on the Central Government ...
Patra is a 1985 batch RBI Grade B officer. [3] [4] Before his appointment as deputy governor, Patra served as the executive director of the monetary policy department of RBI—where he moved to in 2006—and as such, was an internal member of the powerful Monetary Policy Committee.