Agency for Specialized Monitoring

Frauds have emerged as one of the significant concern in the management of operational risk, with majority of them located in the credit portfolio of banks resulting in an increase in NPA. Out of the several governance reforms introduced by Govt Of India, in order to keep a watch on fraudulent activities and to prevent diversion of funds, introduction of the Agencies for specialized monitoring has been initiated, under the ASM, banks will now appoint specialized monitoring agencies empanelled on Indian Banks’ Association to closely track the activities of the borrower including but not limited to purchases, invoices, actual production vis-à-vis projection, high value transaction, payments, cash inflow and cash outflow. RAMA is proudly empanelled on IBA.