Economics · Banking Codes and Standards
A key function of the Banking Codes and Standards Board of India (BCSBI) is monitoring Code compliance. Which entity is ultimately responsible for ensuring that a bank's policies and procedures are aligned with the Codes and that the bank's culture promotes Code adherence?
- 1The Reserve Bank of India (RBI)
- 2The Board of Directors of the Member Bank✓
- 3The Indian Banks' Association (IBA)
- 4The External Auditors appointed by the BCSBI
Correct answer
The Board of Directors of the Member Bank
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