IndusInd Bank hires KPMG for risk management system

By Our Banking Bureau | 11 Sep 2003

Hyderabad: IndusInd Bank has engaged KPMG Consulting to assist it to develop an enterprise-wide risk management framework, which would cover risks across all function streams.

IndusInd aims to benchmark its risk management practices to international standards and adopt Basel-II guidelines at the earliest, says its chairman, R J Shahaney, in a communiqué to the shareholders.

Under the proposed framework, which is in an advanced stage of implementation, several initiatives were being taken, he says. "The bank plans to utilise its advanced risk management architecture to reduce volatility in earnings and to enhance shareholder value."