Question
Which of the following financial activity can be
outsourced by an NBFC? Read the following passage and answer the next 2 question Outsourcing' is defined as the NBFC’s use of a third party (either an affiliated entity within a corporate group or an entity that is external to the corporate group) to perform activities on a continuing basis that would normally be undertaken by the NBFC itself, now or in the future. NBFCs have been outsourcing various activities and are hence exposed to various risks Further, the outsourced activities are to be brought within regulatory purview to protect the interest of the customers of NBFCs and to ensure that the NBFC concerned and RBI have access to all relevant books, records and information available with service provider. Some key risks in outsourcing are Strategic Risk, Reputation Risk, Compliance Risk, Operational Risk, Legal Risk, Exit Strategy Risk, Counterparty Risk, Country Risk, Contractual Risk, Access Risk, Concentration and Systemic Risk. It is therefore imperative for the NBFC outsourcing its activities to ensure sound and responsive risk management practices for effective oversight, due diligence and management of risks arising from such outsourced activities.Solution
Typically outsourced financial services include applications processing (loan origination, credit card), document processing, marketing and research, supervision of loans, data processing and back office related activities, besides others. NBFCs which choose to outsource financial services shall, however, not outsource core management functions including Internal Audit, Strategic and Compliance functions and decision-making functions such as determining compliance with KYC norms for opening deposit accounts, according sanction for loans (including retail loans) and management of investment portfolio.
If the sum of the ages of a father and his son is 60 years and the difference of their ages is 30 years, what is the father's age?
Three years ago, the ratio between the ages of 'A' and 'B' was 4:5, and eight years from now, the ratio will be 6:7. If 'C' is 12 years older than 'A', ...
The age of person A (y+3) years ago and the age of person B (y+4) years from now are in the ratio 2:3.
It is also given th...
In 6 years, Divya's age will be 40% less than Malu's age at that time, and currently, Divya's age is 25% more than Soni's age. Additionally, the age of ...
The average age of 26 children and their teacher's age are 22 years. If the teacher's age is excluded, the average reduces by 1. What is the teacher's age?
Two years ago, the combined ages of Armaan and Bikash equaled Chetna's age at that time. Ten years ago, Armaan was twice as old as Bikash. If, in five y...
Three years ago, the ratio of ages of P, Q, and R was 4:3:5. Present age of S is 40 years, who is 5 years older than R. Find the age of P five years fro...
The ratio of the present ages of a son and his father 3:7 and that of his mother and father is 6:7. Four years ago, the ratio of the age of the son that...
The average age of a group of 70 students is 14 years. If three students whose ages are 22 years, 20years, ________ years are replaced with th...
When 15 years is subtracted from the present age of A and the obtained result is divided by 4, then the present age of his nephew is obtained. If the pr...
