NFRA Advances Auditing Reforms with ISA 600 Adoption; ICAI Revises Quality Management Standards
After months of deliberation, the National Financial Reporting Authority (NFRA) announced on Monday its decision to adopt the International Standard on Auditing 600 (ISA 600) for all listed companies, with the exception of public sector companies, state-run banks, and their branches.
Mahindra and Mahindra Financial Services Appoints Mod Narayan Singh as CCO and Bijoy Thaplial as Chief Business Officer
The Board of Directors of Mahindra and Mahindra Financial Services Limited has approved the appointment of Mod Narayan Singh as the Chief Compliance Officer, forming part of the Senior Management Personnel (SMP).
The Average Cost Of Data Breaches In India Is $2.18 Million: RBI Report
According to the Reserve Bank of India's (RBI) Currency and Finance report for 2023–24, the average cost of data breaches in India rose to $2.18 million in 2023, marking a 28% increase since the year 2020.
RBI Appoints Arnab Chowdhury and Charulatha Kar as Executive Directors
On July 1, the Reserve Bank of India (RBI), India's banking regulator, appointed Arnab Kumar Chowdhury and Charulatha S. Kar as Executive Directors with effect from June 3 and July 1, respectively.
Banks Nationwide on High Alert as RBI Warns of Imminent Cyberattacks
Banks nationwide have been placed on high alert following warnings from regulators about potential cyberattacks.
Arun Kumar Singh Appointed Additional Director on the Board of Bandhan Bank by RBI
The Bandhan Bank Limited announced that the Reserve Bank of India (RBI), the Banking Regulator, has appointed Arun Kumar Singh as Additional Director for a period of one year with effect from June 24, 2024, to June 23, 2025, or until further orders, whichever comes first. With almost 36 years of ex
NBFCs should prioritise compliance, risk, and liquidity :RBI
Non-banking finance companies (NBFCs) should prioritise compliance, risk management, liquidity management, and customer protection, according to R. Lakshmi Kanth Rao, Executive Director of the Reserve Bank of India (RBI).
IIFL Finance names a corrective action team following the RBI audit
The Reserve Bank of India (RBI) was alerted to major anomalies in IIFL Finance's gold loan portfolio.
RBI denies Raj Kumar Bansal a reappointment as MD & CEO at Edelweiss ARC
The Reserve Bank of India has denied Edelweiss Asset Reconstruction Company's (Edelweiss ARC) request to reappoint Raj Kumar Bansal as its Managing Director and Chief Executive Officer (CEO), on Tuesday, the firm has informed stock exchanges.
RBI penalties have increased by 88% in three years; KYC and AML top the list
Over the past three years, penalties imposed by the Reserve Bank of India (RBI) on financial institutions have surged by 88%, with Know Your Customer (KYC) and Anti-Money Laundering (AML) violations being the most common.
