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RBI NBFC Compliance Audit

Introduction

The RBI has issued master guidelines and instructions for non-banking financial services companies to identify and address operational risks and weaknesses. The desire and necessity for reducing the cyber dangers resulting from the increasing technology adopted by big organizations is the key driver behind these Master Direction Guidelines. The NBFC must abide by the license's restrictions (such as customer protection, data security, audit function, grievance redressal, data security, audit control, corporate governance and risk management framework). 

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Role Of Precise Testing Solution

Precise Testing Solution will support you in understanding, managing, and complying with the RBI Circulars and Guidelines that are released on a regular basis as a CERT-In Empanelled Security Auditor. In dealing with the NBFC sector, RBI released fresh, updated information on the information technology framework. This material includes particular terms and requirements relating to IT audits, business continuity planning, cyber security, and other topics. 

RBI NBFC Audit Process

The whole RBI NBFC Compliance process is handled by our team at Precise Testing Solution, and we have split our working methods to guarantee RBI compliance. 

  • The organisation is the subject of information gathering.  
  • Review of the organization’s operations. 
  • The organization’s policies, processes, and other documentation are examined. 
  • Evidence for Every Audit Point Is Collected. 
  • The holes are located. 
  • Wherever feasible, areas for improvement will be offered. 
  • The report must be written and include any observations that follow the rules. 
  • The points on compliance, non-compliance, and areas in need of improvement are made quite plain. 
  • The report presentation must be completed when the above-mentioned procedures are finished. 
  • The customer receives the final, signed report, which can also be shared with the regulatory agency upon request. 

Benefits Of RBI NBFC Compliance Audit

  • It increases trust that the mechanisms are appropriate and functioning safely according to plan. 
  • The viewpoint of a neutral third person is gained. 
  • Direct operations so that the company may provide better services. 
  • Provide user companies that contract out any IT systems performing crucial functions the confidence that the service providers have policies and controls in place to deliver consistent and dependable services. 
  • With the help of the knowledgeable Precise Testing Solution staff, the security of the organisation can be enhanced. 

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Why should you choose Precise Testing Solution?

The Precise Testing Solution is a STQC & CERT-IN empanelled company that is a member of the Data Security Council of India and NASSCOM, and is also certified under ISO 9001:2008 and ISO 27001:2013 standards & licensed IT services software testing company that provides cyber security services as well along with information security solutions that include VAPT Services, Penetration Testing Services, and Vulnerability Assessment Services.  

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