Friday, October 25, 2013

RBI asks RRBs to ensure service providers adhere to regulatory needs

......“Regional Rural Banks may necessarily enter into agreement with the service provider that the infrastructure and applications are made available for audit / inspection by the regulators of the country,” said RBI. The central bank also said that RBI and National Bank for Agriculture and Rural Development (NABARD) should have access to all information resources that are consumed by RRBs, though the resources are not physically located in the premises of banks........

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