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RBI AUDIT NBFCS
Mythos: A challenge for the Indian banking systemClaude Mythos, a cutting-edge AI tool, has unearthed significant weaknesses in cybersecurity systems. In response, Indian authorities are s...- Net sales of non-financial private companies rise 11.4% in FY25: RBI dataThe Reserve Bank's recent statistics reveal that net sales for non-financial private firms surged by 11.4 percent in 2024-25. This reflects...
- IndusInd crisis highlights audit policy bumps: ExpertsThe IndusInd Bank forex derivatives crisis highlights the challenges with current audit policies for commercial banks, NBFCs, and small fin...
- RBI comes out with PCA framework for NBFCsThe RBI said," NBFCs have been growing in size and have substantial inter-connectedness with other segments of the financial system. Accord...
- RBI extends risk-based internal audit system to HFCsAn effective RBIA is an audit methodology that links an organisation's overall risk management framework and provides an assurance to the B...
- Slow and steady the way to Go, RBIIL&FS, Dewan Housing Finance, HDIL — NBFCs have put up scandalous performance, creating a climate that legitimises drastic action, even mak...
- Industry bodies urge RBI to put off new audit rulesConfederation of Indian Industries (CII), Assocham, and Finance Industry Development Council (FIDC) have all written to the central bank ab...
- New auditing rule book to ensure no repeat of IL&FS, DHFL-like fiascosRules likely to improve transparency and build confidence in audit industry, say many analysts, who also flag initial operational issues
- CII wants RBI to review circular on appointment of bank, NBFC auditorsThe Reserve Bank in its circular on April 27, 2021 imposed various restrictions on appointment of auditors by banks and NBFCs and prescribe...
- Stricter RBI rules force auditors to rethink on assessing holding companiesHolding companies of large corporate entities are now categorised as “deemed” Non Banking Finance Companies even if they have not borrowed ...
- Banks plan to petition RBI to ease auditor norms, delay their rolloutAs India has only a handful of quality audit firms, it might be difficult to operationalise central bank directions on systemic oversight a...
- RBI's audit diktat difficult to implementIn a notification released on Tuesday, RBI said that banks and NBFCs cannot continue with the same auditor beyond three years down from fou...
- RBI brings in stricter norms for auditors of banks, NBFCsThe RBI has set criteria for audit firms regarding the number of audits they can undertake at a time, and how they should conduct them. The...
- RBI issues guidelines for appointment of statutory auditors of banks, NBFCsAs per the new norms, banks will be required to take prior approval of the RBI for appointment or reappointment of statutory auditors on an...
- India's risk-based internal audit requirement for NBFCs is credit positive: Moody'sThe framework requires an NBFC's internal audit function to assess risks independently of its existing risk-management functions. The new g...
- RBI brings large NBFCs, UCBs under risk based audit systemThe risk assessment framework should cover risks at corporate, branch, portfolio and individual transactions levels and associated processe...
- New framework for NBFCs in the worksCentral bank is considering a scale-based filter to frame new rules for the last-mile lenders
- Reserve Bank to consider new framework for its numerous banking proxiesAs the one-size-fits-all approach wouldn't work with NBFCs, the RBI is considering a scale-based filter to frame new rules for last-mile le...
- Regulations, audit for UCBs & NBFCs to be brought on par with banks: RBI"We want the NBFC sector to remain robust. It plays an important part in filling the last mile gap and hence we have also made some changes...
- RBI allows NBFCs to market MF products on selective basisRBI on Monday allowed non-banking finance companies (NBFCs) and residuary non-banking companies (RNBCs) on a selective basis to market and ...
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