Digital Banking Compliance Role

Digital Compliance

- Guiding Business Units on Regulatory Compliance for transactions handled by the Bank covering Digital Banking Products (Prepaid Instruments, Internet Banking, Mobile Banking, Domestic Remittance, UPI etc)

- Regulatory Guidance

- Provides guidance and support to business teams on their queries pertaining to Digital Banking Products guidelines issued by RBI

- Liaising with RBI for seeking clarification

- Review of Product and Process Notes

- Review of Product and Process note to ensure that product/ process notes are compliant from regulatory perspective.

- Ensures that compliance comments are communicated and discussed with the product owner post internal discussion.

- Circular Tracker Implementation

- Ensure that regulatory guidelines are disseminated within prescribed timelines

- Identification, review of action point and dissemination to stakeholders

- Follow up with stakeholder to ensure that regulatory guidelines are implemented by the relevant unit(s).

- Testing of compliance submitted by stakeholder before closure of circular action points

- Training

- Devise online training module , periodic updation etc.

- Provide Training on Regulatory Guidelines pertaining to Digital Banking product/ channels