Alerts & Updates 17th Jul 2024
The Reserve Bank of India (RBI) issued revised Master Directions on Fraud Risk Management in July 2024, superseding previous guidelines and consolidating 36 existing circulars. These comprehensive directions apply to a wide range of regulated entities, including commercial banks, cooperative banks, and non-banking finance companies. These Directions are a significant step in enhancing the robustness of fraud prevention and control measures within India’s financial sector.
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