Banks not required to submit single report on progress in implementation of Risk Management System/ALM, Risk Based Supervision and Risk Based Internal Audit

By | April 1, 2016

RBI/2015-16/352
DBS.CO.PPD.10887/11.01.005/2015-16

March 31, 2016

The Chairman/ The Chief Executive Officer
All Scheduled Commercial Banks
(Excluding RRBs)

Madam/Dear Sir,

Risk Based Supervision – Follow up of Risk Management Systems in Banks

We invite your kind attention to the provisions contained in our Circular No. DBS.CO.PPD.BC/14//11.01.005/2003-04 dated June 26, 2004, in terms of which, banks are required to submit a single report on the ‘progress in implementation of Risk Management System/ALM, Risk Based Supervision and Risk Based Internal Audit’, on quarterly basis to the Reserve Bank.

2. On a review, it has been decided to dispense with the submission of the said report by the banks to the Reserve Bank. Hence, the banks are not required to submit the single report on the ‘progress in implementation of Risk Management System/ALM, Risk Based Supervision and Risk Based Internal Audit’, on quarterly basis to the Reserve Bank with effect from the quarter ending March, 2016.

Yours faithfully,

(Parvathy V Sundaram)
Chief General Manager-in-Charge

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