“Dynamic Recalibration of Fraud Risk Management Framework in Indian Technology-driven Transactional Banking”: An Overview

सार

Risk Governance Framework is one of the most vital cogs in the wheel of Corporate Governance of a Bank. It helps the bank’s board and senior management to make paappropriate decisions while envisaging the bank’s business strategy and risk culture. It manifests a bank’s culture, which defines the risk awareness, risk management, and risk-taking ability of a bank. It establishes the process through which all comprehensible direct and indirect risks are qualitatively identified, quantitatively measured, timely monitored, efficiently controlled, and effectively mitigated. Corporate governance and risk culture in the Indian banking sector have been drawing focused attention from regulators, authorities, enforcement agencies, and other bodies. The Reserve Bank of India (RBI) has been emphasizing the urgent need for banks to strengthen their risk management frameworks (RBI,2021). The present paper is a conceptual one and various secondary data being used for the present study. The study will contribute in the existing literature.