As part of robust compliance system, banks are required to have an effective compliance culture, independent corporate compliance function and a strong compliance risk management programme at bank and group level. Such an independent compliance function is required to be headed by a designated Chief Compliance Officer (CCO), therefore , the RBI has come up with the framework on compliance function in banks and role of Chief Compliance offers.As part of robust compliance system, banks are required to have an effective compliance culture, independent corporate compliance function and a strong compliance risk management programme at bank and group level. Such an independent compliance function is required to be headed by a designated Chief Compliance Officer (CCO), therefore , the RBI has come up with the framework on compliance function in banks and role of Chief Compliance offers.taxmann.com Latest Statutory HappeningsRead More
