RBI has been recognized by Central Banking, UK, as the "Risk Manager of the Year 2024" for raising its level of risk awareness and culture. Manoranjan Mishra, the executive director of the RBI, accepted the honor last week.

The development and implementation of an enterprise-wide risk management (ERM) framework have been greatly aided by RBI's Risk Monitoring Department.

RBI has concentrated on three key areas over the past year: bolstering the organization's current risk controls, creating new frameworks to address a wider variety of risks, and encouraging a strong risk culture across the board. By international standards, their work has raised RBI's operational risk management from a "managed" to a "advanced" level.

The official RBI account posted the announcement on the social networking site X, which was once known as Twitter.

According to the article, "Central Banking, London, UK, has granted the Reserve Bank of India the Risk Manager of the Year Award 2024. RBI received the Best Risk Manager award for raising its level of risk consciousness and culture. On behalf of the RBI, Executive Director Shri Manoranjan Mishra accepted the prize. #centralbankingawards #rbi #centralbanking."