The central bank had in August MPC announced to issue a direction on managing risks and code of conduct in outsourcing of financial services. The Reserve Bank of India, on October 26, has placed the draft master direction on Read More …
Author: RMA INDIA
RBI invites public comments on risk management for banks
Risk Management of AI one of top tech trends for 2024
The rapid adoption of artificial intelligence stresses the importance of risk and security management. “Without guardrails, AI models can rapidly generate compounding negative effects that spin out of control, overshadowing any positive performance and societal gains that AI enables”, market Read More …
The importance of strong Treasury and Risk Management practices in the face of recent bank failures- How banks can avoid “the perfect storm”
“Ain’t no use jiving, ain’t no use joking Everything is broken Seem like every time you stop and turn around” Something else just hit the ground Bob Dylan: Everything is Broken The recent collapse of several US banks, including Silicon Read More …
Only 17% of Companies Globally Have Addressed Generative AI Risks with Employees, According to New Riskonnect Research
A new generation of threats sparks change in how companies manage and combat enterprise risk ATLANTA & LONDON–(BUSINESS WIRE)–While 93% of companies recognize the risks associated with using generative AI inside the enterprise, only 9% say they’re prepared to manage Read More …
Which industry is the least confident in managing their risks?
Global report calls for innovation as a solution to present challenges A new report finds that insurance leaders are the least confident among those in the financial sector when queried about managing and overcoming risks and current challenges, with only Read More …
RBI imposes monetary penalty on four co-operative banks and one HFC.
The Reserve Bank (RBI) has imposed monetary penalties on four co-operative banks for deficiencies in regulatory compliance. These co-operative banks are: Gujarat Mercantile Co-operative Bank, Nagarik Sahakari Bank, Makarpura Industrial Estate Co-operative Bank and Sevalia Urban Co-operative Bank. The Reserve Read More …
DPDP Act revolutionising third-party risk management in India
In the current era of Generative AI and other related technologies, business leaders face pressure on two common fronts: achieving profitable growth and fostering innovation. To meet stakeholder expectations, CxOs have widely adopted outsourcing. This strategic move allows companies to Read More …
Moody’s feels India’s chip dreams could be headed for troubled waters as risks from climate change loom
According to Moody’s risk management solutions, by 2050, the costs of flooding are expected to rise by around 30 per cent, from water stress by 35 per cent, sea level rise by 60 per cent, and heat stress by 150 Read More …
5 Strategies for Managing Third-Party Risk
To mitigate the cyber risks associated with third-party providers, it’s important to continuously monitor their information security controls and other cyber threats Many organizations are looking outside their own IT departments to expand their digital footprint and power business processes. Read More …
Generative AI won’t just be about improving financial industry processes and structures. The boom in such tools will be a key management challenge for risk control functions in the 2020s.
This time last year, the words «generative» and «natural language processing» didn’t mean all that much to many. But now that «The Zuck» announced his intention to end «all diseases» (collated Google search) with the help of artificial intelligence, things Read More …