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Risk-based internal audit (RBIA)
February 9 , 2021
1388 days
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- RBI on has introduced a risk-based internal audit (RBIA) system.
- It has made it mandatory for select non-banking financial companies and urban co-operative banks (UCBs).
- As per the norms, all the deposit-taking non-banking financial companies (NBFCs) with the asset size of Rs 5,000 crore will have to implement this system.
- The system is required to be implemented by March 31, 2022.
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