Questions and Answers
What was the primary purpose of the revamp of the ERMS?
Which regulatory framework does the refined ERMS specifically address?
What is the primary function of the new Asset Liability Management (ALM) software?
Who heads the Risk Management Committees constituted in 2023-24?
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Which of the following committees focuses specifically on Operational Risks?
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What initiative has RMD taken regarding Standard Operating Procedures (SOPs)?
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Which company was responsible for developing the new ALM software?
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Which risk does the Credit Risk Management Committee (CRMC) focus on?
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What is the primary function of the Enterprise Content Management (ECM) solution implemented by the bank?
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What significant feature does the HRMS-Empower system automate?
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Which mobile platforms is the ECM Mobile app available on since its launch?
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What is the main purpose of the 'DigiDak' module integrated into ECM?
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What technology enables streamlined access in the NABARD Desktop App?
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What is the primary focus of the revised Fraud Risk Management Policy?
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Which policy specifically deals with the formulation and review of operational guidelines?
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What does the Standard Operating Procedure (SOP) for preparing SOPs entail?
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Which policy addresses the monitoring format for refinance products aimed at financial institutions?
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Which document is concerned with the delegation of sanctioning and disbursement powers?
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What type of risk does the Credit Risk Mitigation and Collateral Management Framework primarily focus on?
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Which policy is not related to stress testing protocols?
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How many policies related to risk management were reviewed and revised?
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Which option best describes the Guidelines for debarment of NGOs?
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What area does the revised policy for Default Forecasting specifically tackle?
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What is the primary focus of the cyber security measures initiated by NABARD?
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What function does Data Loss Prevention (DLP) serve within an organization?
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Which aspect of data security does Data Classification prioritize?
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What is the purpose of the Mobile Device Management (MDM) solution?
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Which of the following statements is true regarding Database Activity Monitoring (DAM)?
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Which of the following is NOT included in the cyber security solutions mentioned?
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What impact does a suitable Database Activity Monitoring solution aim to achieve?
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What type of data does the DLP solution specifically aim to protect?
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In what manner does Data Classification contribute to data security?
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The implementation of MDM solutions primarily ensures which of the following?
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What is the total outstanding borrowings managed by the Finance Department during FY 2023-24?
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Which organization issued India’s first ever AAA-rated, externally certified social bond?
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What was the total subscription for the social bond issued by NABARD against the base issue of ₹1,000 crore?
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How much priority sector lending (PSL) deposits were mobilized during FY 2023-24?
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As of March 31, 2024, what was the total outstanding investments amount?
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What amount was disbursed towards rural infrastructure creation during FY 2023-24?
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What role does the Finance Department exclusively manage on the Balance Sheet?
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What was the total amount of bonds issued by NABARD in FY 2023-24?
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Which guidelines were followed for the external certification of the social bond issued by NABARD?
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Which figure represents the total outstanding priority sector lending (PSL) deposits during FY 2023-24?
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Study Notes
Enterprise Risk Management Software (ERMS)
- Widely utilized at Regional Offices and Head Office Departments for risk rating and monitoring.
- Upgraded to align with RBI's Master Directions dated September 21, 2023, focusing on Basel III framework.
- Refined modules cover Credit, Market, and Operational Risk Weighted Assets, Collaterals, External Credit Ratings, and regulatory disclosures under Basel III Pillars I, II, and III.
Asset Liability Management (ALM) Software
- New ALM software launched on April 2, 2024, enhancing liquidity and interest rate risk management.
- Developed by Surya Software Systems Private Limited in compliance with latest regulatory standards.
Risk Management Committees
- Established committees led by Deputy Managing Directors:
- Credit Risk Management Committee (CRMC)
- Operational Risk Management Committee (ORMC)
- Market Risk Management Committee (MRMC)
- Focus on implementation of strategies addressing Credit, Market, and Operational risks.
Standard Operating Procedures (SOPs) and Policies
- RMD creating SOPs for NABARD's Business Products in collaboration with relevant departments.
- 24 risk management policies reviewed and revised, including:
- Stress Testing Policy and Fraud Risk Management Policy.
- Guidelines for NGO/Channel Partner debarment.
- Credit Risk Mitigation Framework adjustments.
Regional Risk Awareness
- Conducted five Regional Risk Awareness Workshops to promote understanding and management of risks across staff levels.
Financial Management
- Total borrowings by Finance Department reached ₹4,87,233 crore, with PSL deposits at ₹3,01,905 crore for FY 2023-24.
- NABARD issued India's first AAA-rated, externally certified Social bond, achieving a subscription of ₹8,560 crore against a base issue of ₹1,000 crore, certified by KPMG.
- Achieved the status of the largest domestic bond issuer in the market with bond issuance of ₹65,393 crore in FY 2023-24.
IT Infrastructure and Cybersecurity
- Enhanced digital infrastructure focusing on cybersecurity with initiatives implemented through Pragati 1.0.
- Adopted tools for Data Loss Prevention (DLP), Data Classification, and Mobile Device Management (MDM).
- Introduced Database Activity Monitoring (DAM) to track unauthorized data access.
Enterprise Content Management (ECM)
- Streamlined processes through ECM leading to approval efficiency, processing over 62,000 cases and digitizing 1.5 million pages in FY 2023-24.
- Launch of the ECM Mobile app which aids in processing cases on mobile devices.
Human Resource Management System (HRMS)
- HRMS-Empower enables automation of HR activities including planning, appraisals, leave applications, and welfare schemes.
- Ongoing improvements to the user interface and user experience with Oracle's Peoplesoft.
NABARD Desktop App
- Launched a Windows desktop application to provide personalized organizational information and communicate through a streamlined interface with support for Single Sign-On and REST APIs.
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Description
This quiz focuses on the Enterprise Risk Management Software (ERMS) and its recent updates in compliance with RBI's Master Directions on the Basel III framework. It covers aspects of risk rating, exposure monitoring, and the specific requirements under Pillar I, II, and III of Basel III. Test your knowledge on how ERMS is implemented in financial institutions.