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.
In the following question select the answer pair that expresses a relationship most similar to that expressed in the capitalised pair.
COMPLAIN...
Select the most appropriate antonym of the bold word.
He was reluctant to leave the village for the job he liked the most.
Choose the one which best expresses the meaning of the given word .
Euphoria
Select the most appropriate meaning of the idiom:
"To throw in the towel"
- In the following sentence, choose the word opposite in meaning to the bold word to fill in the blank.
Although the professor's explanation was verb... Find the word with the appropriate similar meaning of the word in Italic from the options given:
The CEO appreciated the manager's astute decis...
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In each of the following questions, three out of four words given have the same meaning. Mark the number as your answer which is different in meaning f...
Find out the appropriate word.
Select the most appropriate synonym of the given word
Fascination
