Day December 6, 2020

RBI tightens oversight of NBFCs, UCBs

• RBI recently announced measures aimed at improving governance and assurance functions of UCBs and non-banking financial companies (NBFCs). Risk-based internal audit norms: • Introduction of risk-based internal audit (RBIA) norms for large UCBs and NBFCs. • It was mandated…

Lab-grown meat

• The Singapore Food Agency (SFA) approved this week the sale of a lab-grown meat product. • This is the first-time cultured meat has been cleared for sale anywhere in the world. • The product approved by the SFA is…