Mumbai: RBI has been awarded the “Risk Manager of the Year 2024” by Central Banking, UK, for improving its risk culture and awareness. The award was received by RBI executive director Manoranjan Mishra last week.
RBI’s Risk Monitoring Department has been central to formulating and implementing an enterprise-wide risk management (ERM) framework. Over the past year, RBI has focused on three main areas: strengthening existing risk controls, developing new frameworks to cover a broader range of risks, and promoting a robust risk culture throughout the organisation.Their efforts have improved RBI’s operational risk management from a “managed” to an “advanced” category by international standards.
RBI has benchmarked its practices against international standards and is working on cybersecurity controls.
RBI’s Risk Monitoring Department has been central to formulating and implementing an enterprise-wide risk management (ERM) framework. Over the past year, RBI has focused on three main areas: strengthening existing risk controls, developing new frameworks to cover a broader range of risks, and promoting a robust risk culture throughout the organisation.Their efforts have improved RBI’s operational risk management from a “managed” to an “advanced” category by international standards.
RBI has benchmarked its practices against international standards and is working on cybersecurity controls.
