Page 3 - Risk Management Bulletin April -June 2021
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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
             25/1, Baranashi Ghosh Street                     every sphere and thereby increasing the risk of Cyber-
             Near Girish Park Metro, Kolkata – 700007 (India)  attacks and online frauds.  Enterprises must have a
             Website : www.rmaindia.org                       proper risk identification and risk assessment strategy
             Email : info@rmaindia.org                        to prevent data breach and safeguard its online
             Help Line : 033 22184184 / 40078378 / 40078428   repository.


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