RBI prescribes compliance functions and role of the Chief Compliance Officer in Primary UCBs
- Blog|News|FEMA & Banking|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 21 September, 2022
Latest from Taxmann
Circular No. RBI/2022-2023/118, Dated: 19.09.2022
The RBI has decided to introduce certain principles, standards and procedures for Compliance Function in UCBs. The circular shall be applicable to all UCBs under Tier 3 and Tier 4 categories. Further, the UCBs under Tier 4 category shall have to put in place a Board-approved policy and a Compliance Function, including the appointment of a Chief Compliance Officer (CCO), based on the framework given in an annexure as a part of the circular, latest by 01.04.2023.
Click Here To Read The Full Circular
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
CA | CS | CMA
