The Reserve Bank on Friday said it has been selected for the Risk Manager Award by the London-based Central Banking as part of Central Banking Awards 2024. “Reserve Bank of India has been selected for the Risk Manager Award by Central Banking, London, as part of Central Banking Awards 2024, for rolling out a new enterprise-wide risk management (ERM) framework across the organization,” RBI said in a post on X.
Rolling out a new ERM framework across an organisation as large as the RBI, with its more than 12,000 members of staff (according to the latest annual report), was never going to be easy, Central Banking said in a statement.
But, with the central bank’s last ERM dating back to 2012, this was work that had to be done, it said.