RBI notification on Risk Based Internal Audit (RBIA)

RBI notification on Risk Based Internal Audit (RBIA)

RBI notification on Risk Based Internal Audit (RBIA)

Please refer to the circular Ref. No. DoS.CO.PPG/SEC.05/11.01.005/2020-21 dated February 03, 2021 on the captioned subject.

2. On a review, it has been decided that the provisions of the aforesaid circular shall be applicable to Housing Finance Companies (HFCs) also, as stipulated below:

  • All deposit taking HFCs, irrespective of their size
  • Non-deposit taking HFCs with asset size of ₹5,000 crore and above

3. The above-mentioned entities shall put in place a RBIA framework by June 30, 2022, in accordance with the provisions of the aforesaid circular.

Notification

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