Compliance
Regulatory compliance frameworks for banks and NBFCs.
Articles
Frequently Asked Questions
No. Compliance works proactively to ensure ongoing adherence to regulations, while internal audit independently and periodically tests whether that adherence is actually happening — the two functions are related but organisationally distinct.
Consequences vary by the nature of the lapse and regulator, ranging from formal warnings and monetary penalties to more significant supervisory action for repeated or serious non-compliance.