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.
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