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RISK MANAGEMENT FRAMEWORK
What is the primary objective of a Risk Management Framework in a bank?
The primary objective is to identify, measure, monitor, and control risks to ensure the bank achieves its strategic goals while maintaining financial stability and regulatory compliance.
What is the meaning of 'risk universe' in a bank's risk management context?
Complete set of all risks a bank may face
Which RBI guideline mandates that Indian banks establish a comprehensive Risk Management Framework?
RBI's Guidelines on Risk Management Systems in Banks (based on Basel Committee recommendations) mandate that all scheduled commercial banks establish a board-approved Risk Management Framework.
What is the role of the Asset Liability Management Committee (ALCO) in risk governance?
Manages market and liquidity risk at the senior management level
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