In the financial sector, the Reserve Bank has crafted well known programs to achieve planned, structured and sustained financial inclusion such as adoption of Business Correspondent and Business Facilitator Model, preparation of Board Approved Financial Inclusion Plans, requiring banks to providing a minimum of four banking products and services including nofrills accounts with overdrafts, and is committed to furthering the scope of these initiatives.
These tools include audit findings, analysis of internal and external loss data, risk control and self assessments, key risk indicators, scenario analysis, comparative analysis etc. I am pleased to know that lively discussions on these tools will follow in the coming sessions. SBP is cognizant of its responsibilities with regard to sound operational risk management frameworks in banks.