https://www.taxtmi.com/news?id=27955 Boards of Small Finance Banks must prioritise governance and oversight to meet financial inclusion objectives, ensuring responsible lending, effective grievance redressal, and participation in government-sponsored schemes. Boards should document deliberations, implement succession planning with adequate Whole Time Director representation, and empower independent assurance functions-risk management, compliance, and internal audit-with direct Board access. Key risks requiring Board scrutiny include concentrated or high-cost funding, weak credit underwriting and recovery practices, cyber-security and IT vulnerabilities, and operational risks from rapid growth and high staff attrition. en-us Mon, 30 Sep 2024 18:16:56 +0530 Mon, 30 Sep 2024 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=27955 Boards of Small Finance Banks must prioritise governance and oversight to meet financial inclusion objectives, ensuring responsible lending, effective grievance redressal, and participation in government-sponsored schemes. Boards should document deliberations, implement succession planning with adequate Whole Time Director representation, and empower independent assurance functions-risk management, compliance, and internal audit-with direct Board access. Key risks requiring Board scrutiny include concentrated or high-cost funding, weak credit underwriting and recovery practices, cyber-security and IT vulnerabilities, and operational risks from rapid growth and high staff attrition. News - Mon, 30 Sep 2024 18:16:56 +0530 https://www.taxtmi.com/news?id=27955