News Risk Management29 May 2019

Reserve Bank of India pushes for more chief risk officers amongst financial institutions

| 29 May 2019

The Reserve Bank of India (RBI) has asked non-bank financial institutions (NBFI) with an asset size of more than $36bn to appoint a chief risk officer (CRO) with a clearly defined role and responbilities, in view of the increasing impact of direct credit intermediation of these companies. The RBI directive comes in the backdrop of the infrastructure leasing and financial services imbroglio and its ripple impact on NBFIs.

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