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Question

Which of the following should head the Credit Control Committee?

A Chairman Correct Answer Incorrect Answer
B CEO Correct Answer Incorrect Answer
C Executive Director Correct Answer Incorrect Answer
D Any of the above Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Each bank should constitute a high level Credit Policy Committee, also called Credit Risk Management Committee or Credit Control Committee etc. to deal with issues relating to credit policy and procedures and to analyse, manage and control credit risk on a bank wide basis. The Committee should be headed by the Chairman/CEO/ED , and should comprise heads of Credit Department, Treasury, Credit Risk Management Department (CRMD) and the Chief Economist.

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