ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    The Risk-Based Internal Audit (RBIA) system is mandated

    for
    A all Scheduled Commercial Banks (except Regional Rural Banks) Correct Answer Incorrect Answer
    B all Scheduled Commercial Banks (including Regional Rural Banks) Correct Answer Incorrect Answer
    C Selected NBFCs (Non -banking finance companies) Correct Answer Incorrect Answer
    D all Scheduled Commercial Banks (except Regional Rural Banks) and Urban Cooperative banks Correct Answer Incorrect Answer
    E Only a, c and d Correct Answer Incorrect Answer

    Solution

    The introduction of Risk-Based Internal Audit (RBIA) system was mandated for all Scheduled Commercial Banks (except Regional Rural Banks. It was decided later to mandate RBIA framework for the following Non-Banking Financial Companies (NBFCs) and Primary (Urban) Co-operative Banks (UCBs): All deposit taking NBFCs, irrespective of their size; All Non-deposit taking NBFCs (including Core Investment Companies) with asset size of тВ╣5,000 crore and above; and All UCBs having asset size of тВ╣500 crore and above.

    Practice Next
    More Alternate Sources of Finance Questions

    Relevant for Exams:

    ask-question