Priyanka Kumari | Oct 27, 2023 |
RBI Invites Public Comments on Managing Risks in Outsourcing of Financial Services
The Reserve Bank of India (RBI) has invited Public Comments from its Stakeholders on Managing Risks and Code of Conduct in Outsourcing of Financial Services via issuing a draft Master Direction on October 26.
The public may be sent comments or Feedback, if any, by email with the subject line ‘Comments on draft Master Direction on Managing Risks and Code of Conduct in Outsourcing of Financial Services’, by November 28, 2023.
The draft Directions have been prepared by incorporating, updating, and where required, harmonizing the extant directions/guidelines/instructions to enable REs to have all current instructions on outsourcing financial services in one place for reference.
The Reserve Bank of India indicated in the Statement on Developmental and Regulatory Policies delivered as part of the Monetary Policy Statement on August 5, 2022, that it will issue a draught Master Direction on Managing Risks and Code of Conduct in Financial Services Outsourcing.
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