Supervisory specialisation is also being reinforced by way of creating specialised divisions for risk-based supervision of KYC / AML risk, data analytics, cyber security and IT examinations, among others.A Supervisory Action Framework has also been put in place which provides for graded early supervisory action depending on the frequency and severity of breaches identified. (b) Strengthening Sound Governance and Internal Controls 1.
Emphasis on risk culture 9. As banks are in the business of taking risks, sound risk culture lies at the heart of every decision that they take. In alignment with global developments, Reserve Bank too has made risk culture and business model analysis as part of its supervisory assessment.