Fraud Risk Management in banks: mandatory EWS, red flagging, natural justice procedures, and RBI/CFR reporting timelines.
These Directions require banks to adopt a Board approved Fraud Risk Management Policy, establish EWS and Red Flagging frameworks integrated with core systems and analytics, investigate red flagged accounts via internal or external audit, adhere to principles of natural justice (SCN, 21 days, reasoned order), report red flagged accounts meeting CRILC threshold to RBI within seven days and all frauds to RBI via FMRs within 14 days, use the Central Fraud Registry for risk management, complete classification within 180 days, and ensure staff accountability and prescribed reporting to LEAs and other authorities.

Interest Equalization Scheme extended for rupee export credit, with bank participation conditioned on average lending rate compliance and DGFT undertakings.
Extension of the Interest Equalization Scheme until June 30, 2024 continues support for pre and post shipment rupee export credit with differentiated equalization rates and an annual subvention cap measured from April 1, 2023. Banks whose average pre subvention lending rate exceeds the permitted band will be identified by DGFT, must provide a prescribed undertaking to participate, will be restricted from the Scheme until compliance, and face potential debarment on further breaches; DGFT will monitor compliance and require specified documentation.