The Reserve Bank of India (RBI) on October 26, 2023, invites comments on the draft Master Direction on Managing Risks and Code of Conduct in Outsourcing of Financial Services.
The draft Master Direction regarding the Management of Risks and Code of Conduct in the Outsourcing of Financial Services is open for comments and feedback. You can provide your input via email with the subject line "Comments on the draft Master Direction on Managing Risks and Code of Conduct in Outsourcing of Financial Services" by November 28, 2023.
These draft Directions have been created by consolidating, updating, and, when necessary, aligning existing directions, guidelines, and instructions. The goal is to provide regulated entities (REs) with a comprehensive, up-to-date set of instructions on outsourcing financial services for easy reference.
This initiative was announced in the Statement on Developmental and Regulatory Policies, which was part of the Monetary Policy Statement dated August 05, 2022. In this statement, it was communicated that the Reserve Bank of India would release a draft Master Direction on Managing Risks and Code of Conduct in Outsourcing of Financial Services.
[Notification No. 2023-2024/1180]
