The risk assessment framework should cover risks at corporate, branch, portfolio and individual transactions levels and associated processes. It should include identification of inherent business risks and drawing-up a risk-matrix for both the factors inherent business risks and control risks, the RBI said.source https://economictimes.indiatimes.com/industry/banking/finance/rbi-brings-large-nbfcs-ucbs-under-risk-based-audit-system/articleshow/80667469.cms
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