📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    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 ₹5,000 crore and above; and   All UCBs having asset size of ₹500 crore and above.

    Practice Next
    More Current Financial Awareness Questions

    Relevant for Exams:

    ask-question