Banking System, NPA & IBC — Set 16

The Related Party Transactions require special approval to prevent conflicts of interest. What approvals are needed for large RPTs in India?

The Audit Committees oversee financial reporting and internal controls. How often should audit committees meet in Indian companies?

The Whistleblower Protection mechanisms encourage reporting of unethical practices. What is protected under whistleblower laws in India?

The Internal Audit function evaluates effectiveness of internal controls. What is the primary role of internal auditors?

The External Auditor provides independent assurance on financial statements. Who appoints external auditors of public companies in India?

The Risk Management Framework helps organizations identify and mitigate risks. What are the key types of risks addressed?

The Operational Risk Management protects against losses from failed processes or systems. What is a common example of operational risk?

The Liquidity Risk Management ensures banks have sufficient funds to meet obligations. What is systemic liquidity risk?

The Concentration Risk in lending arises when banks have significant exposure to limited sectors or borrowers. How is concentration risk managed?

The Regulatory Compliance ensures financial institutions adhere to all applicable laws and regulations. What is the cost of non-compliance?