RBI

RBI Increased the Risk-Based Internal Audit Systems

RBI has extended the period of Risk-Based Internal Audit systems to enhance the quality of auditing and choosing the HFC(Housing Finance Companies).RBI has put additional measures in the system of Risk-Based Internal Audit systems to choose NBFCs(Non-Banking Finance Companies) and urban cooperative banks by March 31, 2022. Provisions will be applied for all deposit HFCs(Housing Finance corporations) & Non-Deposit HFCs(Asset size of 5000cr & above) irrespective of their size of business operation