RBI awarded Risk Manager of the Year Award 2024 by London-based Central Banking

The Reserve Bank of India (RBI) was honored with the Risk Manager of the Year Award 2024 by Central Banking, London, for implementing a new enterprise-wide risk management (ERM) framework. This initiative aimed at enhancing risk culture and awareness across the organization, which comprises over 12,000 staff members.

Executive Director Shri Manoranjan Mishra accepted the award on behalf of RBI. Central Banking highlighted the challenge of updating the ERM framework, last revised in 2012, underscoring the necessity and complexity of such an endeavor.

ERM involves comprehensive planning to mitigate financial, strategic, operational, and accidental risks, emphasizing organization-wide risk management over individual unit-based approaches.