Page 3 - Risk Management Bulletin April -June 2021

RMAI BULLETIN APRIL TO JUNE 2021

RISK MANAGEMENT ASSOCIATION OF INDIA

Registered Under Societies Registration Act - 1961 Vide Registration No. S/73835 (WB)
A Non Profit Organisation Engaged in Promotion of Risk Management Discipline in India

RMAI Quarterly Bulletin Editorial

VOL. IV - No. 02 - April - June 2021
Over the years the severity of tropical cyclones in India
Council Members is gradually increasing. India has a large coastline and
Mr. R.G.Agarwala, President many part of it is vulnerable. Though with early
Prof. (Dr.) Abhijit K Chattoraj, Vice President satellite warning systems there has been significant
Dr. Rakesh Agarwal, Secretary General reduction in loss of lives but still economic damages
Mr. Shyam Agarwal, Treasurer do occur and is a major source of worry. There is
Mr. Kishore Kumar L. Naik significant need of more research in this area to
Mr. Vineet Agrwal
Mr. Naren Bonnerjee analyse the cyclone pattern and collate data to take
Mr. Bilwa Banerjee a informed decision. We have covered an article in this
issue which will discuss in details about its impact and
Advisory Council Members
measures that can be taken to minimise losses.
Mr. B D Banerjee
Mr. Kamalji Sahay
Mr. G Srinivasan RBI has recently issued notification advising Urban
Mr. Kaushal K Mishra Cooperative Banks in India to focus its attention on
Mr. Sridhar Kalyanasundaram putting in place appropriate risk management
Mr. Somit Chitrey mechanism commensurate with its business profile
Mr. KB Vijay Srinivas and strategic objectives. All UCBs having asset size of
RMAI Industry Experts Rs. 5000 crore or above, shall appoint a Chief Risk
Mr. Amol Padhye, RMAI Banking Expert Officer (CRO) and the Board must clearly define the
Mr. N.K.V Roop Kumar, RMAI Life Insurance Expert CRO’s role and responsibilities and ensure that he/she
Mr. Anjan Bhattacharya, RMAI Life Insurance Expert functions independently.
CA Ganesh Iyer, RMAI Life Insurance Expert
Mr. Vikas Newatia, RMAI General Insurance Expert RBI has also issued a circular advising Cooperative
Mr. Avez Sayed, RMAI General Insurance Expert Banks to adhere to norms while outsourcing of
Mr. Surath Mukherjee, RMAI Corporate Expert services. Is has advised Co-operative banks to conduct
Mr. Dwaipayan Dutta, RMAI Industry Expert – Life and Health
a self-assessment of their existing outsourcing
RMAI Brand Ambassador arrangements and bring the same in line with these
Mr. Shaik Gulam Afzal Biya Bani, guidelines within a period of six months from the date
Middle-East and North Africa (MENA) of issue of this circular.
Mr. Kr Sumit Gaurav, Uganda
RMAI Academic Council Banks and Financial Institutions need a strong Risk
Prof Manoj K Pandey management framework and policies in order to
Prof Pratik Priyadarshi safeguard interest of stakeholders.
Dr. A. A. Attarwala
Registered Office Pandemic has revolutionised the use of technology in
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Website : www.rmaindia.org proper risk identification and risk assessment strategy
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