The central bank said the three revised master directions on fraud risk management are principle-based and strengthen the role of the board in overall governance and oversight of fraud risk management.
“The master directions now expressly require that the REs (regulated entities) shall ensure compliance with the principles of natural justice in a time-bound manner before classifying persons/entities as fraud, duly taking into account the SC Judgment dated March 27, 2023,” a RBI statement said.
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Day 3: Afghanistan vs NZ Test abandoned due to rain
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2023 ODI World Cup in India generated economic impact of $1.39 billion: ICC
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It will be harder to face SG balls: B'desh's Litton on India Tests
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Rohit, Kohli, Pant are probably going to be really big ones: Lyon
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Hockey: Raj Kumar's hat-trick helps India thrash Malaysia 8–1
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NTPC paid final dividend of Rs 3.151 cr for FY24
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BPRL wins 1st full production concession in Abu Dhabi
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