Challenges

• Ensuring compliance with RBI’s Master Direction on IT Framework for NBFCs, which mandates strong governance and risk management practices.
• Lack of a structured framework for IT risk assessment and reporting.
• Difficulty in monitoring and managing IT infrastructure across multiple locations.

Solutions Offered

• Established a comprehensive IT Governance framework aligned with RBI’s guidelines.
• Conducted a gap analysis to identify areas requiring compliance improvements.
• Implemented IT risk management practices, including regular risk assessments and audits.
• Deployed automated tools for compliance reporting and monitoring.
• Strengthened incident response and business continuity plans to meet RBI’s standards.

Outcome

• Achieved full compliance with the RBI’s Master Direction within the stipulated timeline.
• Enhanced IT governance and risk management processes, reducing overall IT risks by 30%.
• Improved audit readiness and streamlined reporting to RBI, resulting in faster approvals and reduced regulatory scrutiny.