Reserve Bank Of India - Master Circulars
2. Such relationships could also be established solely with the approval of the Board, or by a Committee headed by the Chairman/CEO with clearly laid down parameters for approving such relationships, as accepted by the Board. Proposals approved by the Committee should be put up to the Board at its subsequent assembly for publish facto approval. 3. The tasks of every financial institution with whom correspondent banking relationship is established ought to be clearly documented.
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