Your Ultimate Warehouse Audit Guide
The Warehouse is not only the storage space for your inventory but also contains numerous dangers. Keeping up with maintenance […]
Your Ultimate Warehouse Audit Guide Read Post »
The Warehouse is not only the storage space for your inventory but also contains numerous dangers. Keeping up with maintenance […]
Your Ultimate Warehouse Audit Guide Read Post »
✅ Ensure that the number of recorded calls matches the number of calls made. ✅ Over a surprise visit, check the settlement-related
In the dynamic retail environment, managing inventory across multiple locations is a complex challenge. For inventory control heads and loss
Bin-Wise Sign-offs: Ensuring Accountability in Multi-Location Inventory Audits Read Post »
In retail, discrepancies between physical stock and system records are more than just operational nuisances—they’re fiancial vulnerabilities. Physical theft, misplaced
GC Vs. SC Checks: The Cornerstone of Accurate Inventory Audits Read Post »
Inventory discrepancies are more than just operational hiccups—they’re a gateway to financial losses, inefficiencies, and compromised decision-making. For inventory control
Outsourcing collection processes to third-party agencies is a common practice for banks and NBFCs, particularly in vehicle financing and other
Challenges and solution in the collection Process: Outsourced Agency Detail Verification Read Post »
Inventory control, also known as stock management, is the backbone of operational efficiency in any supply chain. Effective inventory control
Mastering Inventory Control: The KGAC Advantage Read Post »
Adherence to compliance protocols for repossession processes is non-negotiable for financial institutions. When borrowers default on loan agreements, financial institutions
Mastering Repokit Compliance: A Guide for Bankers and Collection Heads Read Post »
Custom Retail Audit Ensure your store meets compliance standards and operationalexcellence with a third-party retail audit tailored to your needs.Our
Custom Retail Audit Read Post »
Adopt my approach to enhancing 𝗢𝘂𝘁𝘀𝗼𝘂𝗿𝗰𝗲𝗱 𝗔𝗴𝗲𝗻𝗰𝘆 𝗗𝗲𝘁𝗮𝗶𝗹𝘀 𝗩𝗲𝗿𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻. Bookmark this post as a resource for reviewing your collection audit
Outsourced Agency Details Verification. Read Post »
𝗔𝘀𝘀𝗲𝘁 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 is critical for organizations to track, maintain, and optimize their fixed assets efficiently. Precision fixed asset verification is
Asset management Stategy Read Post »
𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀 𝗙𝗼𝗿 𝗮 𝗡𝗲𝘄 𝗟𝗼𝗰𝗮𝘁𝗶𝗼𝗻: In retail, there’s no universal solution, so inventory planning teams have a range
Nothing in retail is one-size-fits-all…. Read Post »
𝗗𝗲𝗰𝗶𝗱𝗲𝗿𝘀 have two central challenges: being ‘sufficiently certain’ that their decision will deliver what they intended and that what it delivers is
Perspective on Decision and Risk Mitigation Read Post »
𝗜𝗻𝗱𝗶𝗮 𝗿𝗮𝗻𝗸𝘀 𝗮𝘀 𝘁𝗵𝗲 𝘄𝗼𝗿𝗹𝗱’𝘀 𝘀𝗲𝗰𝗼𝗻𝗱-𝗹𝗮𝗿𝗴𝗲𝘀𝘁 𝘁𝗲𝘅𝘁𝗶𝗹𝗲 𝗮𝗻𝗱 𝗴𝗮𝗿𝗺𝗲𝗻𝘁 𝗽𝗿𝗼𝗱𝘂𝗰𝗲𝗿, with its fashion and apparel sector playing a vital role
Navigating the challenges in The Apparel Industry….. Read Post »
𝗔𝗹𝘁𝗵𝗼𝘂𝗴𝗵 𝘀𝘁𝗼𝗿𝗲 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝗶𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗰𝗼𝗻𝘁𝗿𝗼𝗹 𝗰𝗮𝗻 𝘀𝗼𝗺𝗲𝘁𝗶𝗺𝗲𝘀 𝗯𝗲 𝘁𝗲𝗱𝗶𝗼𝘂𝘀, 𝗶𝘁’𝘀 𝘃𝗶𝘁𝗮𝗹𝗹𝘆 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗳𝗼𝗿 𝗮 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝘁𝗼 𝘀𝘁𝗮𝘆 𝗼𝗻-𝘁𝗿𝗮𝗰𝗸 𝘄𝗶𝘁𝗵
Easy Inventory control methods Read Post »
right stock to meet customer demand while minimizing carrying costs and preventing stockouts or overstock situations.Two primary categories of inventory
Inventory control is a key element of an inventory management system. Read Post »
𝐕𝐢𝐭𝐚𝐥 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭𝐬 𝐨𝐟 𝐑𝐞𝐩𝐨 𝐊𝐢𝐭 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞. Many of you are likely familiar with Repo Kit Compliance, but to ensure everyone
Repo Kit Compliance…… Read Post »
A financial institution necessitates ongoing transaction monitoring, particularly in the case of entities such as banks, where a robust and
A concurrent audit refers to the simultaneous inspection of financial transactions…… Read Post »
𝗧𝗵𝗲 𝗽𝘂𝗿𝗽𝗼𝘀𝗲 𝗼𝗳 𝗰𝗼𝗻𝗱𝘂𝗰𝘁𝗶𝗻𝗴 𝗮 𝘀𝘁𝗼𝗰𝗸 𝗮𝘂𝗱𝗶𝘁 𝗶𝘀 𝘁𝗼 𝘃𝗲𝗿𝗶𝗳𝘆 𝘁𝗵𝗲 𝘀𝗮𝗳𝗲𝘁𝘆 𝗮𝗻𝗱 𝗮𝗰𝗰𝘂𝗿𝗮𝘁𝗲 𝘃𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗳𝘂𝗻𝗱𝘀 𝗹𝗲𝗻𝘁 𝗯𝘆
We may have encountered numerous cases where individuals engage in fraud and forgery to deceive banks and obtain financial benefits.
Preliminary Check, Disbursement and Post Disbursement Inspection. Read Post »
“𝗥𝗕𝗜’𝘀 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗙𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸: 𝗔 𝗦𝘁𝗿𝗼𝗻𝗴𝗲𝗿 𝗙𝘂𝘁𝘂𝗿𝗲 𝗳𝗼𝗿 𝗡𝗕𝗙𝗖𝘀” The RBI (Reserve Bank of India) is worried about a problem in
“RBI’s Compliance Framework: A Stronger Future for NBFCs” Read Post »
𝗔 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗥𝗶𝘀𝗸 𝗔𝘀𝘀𝗲𝘀𝘀𝗺𝗲𝗻𝘁 𝗥𝗲𝗽𝗼𝗿𝘁 is a formal document that outlines the findings and analysis of an assessment of an
A Compliance Risk Assessment Report Read Post »
𝗧𝗵𝗲 𝗥𝗲𝘀𝗲𝗿𝘃𝗲 𝗕𝗮𝗻𝗸 𝗼𝗳 𝗜𝗻𝗱𝗶𝗮 (𝗥𝗕𝗜) is the central banking institution of India and is responsible for the regulation and
RBI Compliance map Read Post »
𝗧𝗵𝗲 𝗥𝗕𝗜 𝗵𝗮𝘀 𝗯𝗲𝗲𝗻 𝗰𝗿𝘂𝗰𝗶𝗮𝗹 𝗶𝗻 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗡𝗕𝗙𝗖 𝘀𝗲𝗰𝘁𝗼𝗿 over the years. With the sector’s evolution and changing dynamics,
The RBI has been crucial in regulating the NBFC sector Read Post »
𝗪𝗵𝗮𝘁 𝗰𝗼𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗲𝘀 𝗮 𝗿𝗶𝘀𝗸? It’s different from common perception. A risk represents an unpredictable event occurring within a specified timeframe,
What constitutes a risk? Read Post »
𝗧𝗵𝗲𝘆 𝗮𝗿𝗲 𝗹𝗲𝗴𝗮𝗹𝗹𝘆 𝗯𝗼𝘂𝗻𝗱 𝗯𝘆 𝗰𝗲𝗿𝘁𝗮𝗶𝗻 𝗴𝘂𝗶𝗱𝗲𝗹𝗶𝗻𝗲𝘀 𝗮𝗻𝗱 𝗰𝗮𝗻𝗻𝗼𝘁 𝗵𝗮𝗿𝗮𝘀𝘀 𝘁𝗵𝗲 𝗯𝗼𝗿𝗿𝗼𝘄𝗲𝗿𝘀 𝗶𝗻 𝗮𝗻𝘆 𝘄𝗮𝘆. These include – ✅Banks must
Guidelines for Loan Recovery Agents: Read Post »
In India, both 𝘁𝗵𝗲 𝗦𝗘𝗕𝗜 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗥𝗲𝘀𝗲𝗿𝘃𝗲 𝗕𝗮𝗻𝗸 𝗼𝗳 𝗜𝗻𝗱𝗶𝗮 are responsible for overseeing Non-Banking Financial Companies (NBFCs), which
Major risk factors of NBFCs Read Post »
✅Are they calling at odd hours( before 7 a.m. and after 7 p.m.)? ✅Are they using harsh language to the
Do you have a notorious collection agency? Read Post »
Visualize 4 bank professionals managing 400 collection agencies, where visits to each agency were scarcely possible once a year. They
Agency Management Inefficiency Read Post »
Non-banking financial companies (NBFCs) should reduce their excessive reliance on Bank borrowings. The study, titled ‘𝗘𝘃𝗮𝗹𝘂𝗮𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗥𝗲𝗰𝗲𝗻𝘁 𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 𝗼𝗳
NBFCS rely more on Bank loans: RBI Read Post »
𝗔 𝗯𝗮𝗻𝗸 𝗿𝗲𝗰𝗼𝗻𝗰𝗶𝗹𝗶𝗮𝘁𝗶𝗼𝗻 𝗮𝘂𝗱𝗶𝘁 involves a structured examination comparing a company’s internal financial records with the details provided in its
A bank reconciliation audit Read Post »
As we were reading the newspaper today, we found this announcement from the Delhi government. So I thought of sharing,
Todays newspaper clipping Read Post »
𝗧𝗵𝗲 𝗥𝗲𝘀𝗲𝗿𝘃𝗲 𝗕𝗮𝗻𝗸 𝗼𝗳 𝗜𝗻𝗱𝗶𝗮 (𝗥𝗕𝗜) recently announced new rules for Non-Banking Financial Companies (𝗡𝗕𝗙𝗖𝘀) 𝗼𝗻 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟭𝟵, 𝟮𝟬𝟮𝟯. The
RBI’s scale-based regulations for NBFCs Read Post »
Having a robust risk mitigation plan is critical for safeguarding your enterprise against unexpected financial turbulence and ensuring sustainable growth.
Risk Mitigation Plan Read Post »
In response to reports, the RBI plans to intensify scrutiny of over 9000 non-banking finance companies (NBFCs) to address issues
Tweezing out of Quiescence Read Post »
One might describe it as a concern regarding unsecured lending; in our perspective, the central bank has implemented a decisive
RBI raises red flag Read Post »
𝗧𝗵𝗲 𝗿𝗲𝘁𝗮𝗶𝗹 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆, known for its perpetual transformation, encounters distinctive challenges in 2023 that necessitate retailers to adapt and innovate.
Navigating the challenges in retail industry Read Post »
While producing any product, manufacturers 𝗥𝗶𝘀𝗸 𝗔𝗱𝘃𝗶𝘀𝗼𝗿𝘆 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 commonly encounter a range of technical, cultural, moral, and ethical risks. Risk
Operational Risk management in manufacturing sector Read Post »
In essence, operational risk encompasses the hazards associated with conducting business. Minor lapses in control and operational inefficiencies, if overlooked,
Overseeing operational risk Read Post »
At its core, a business is a series of processes. If there’s one document that should be the go-to for
Want to create better standards? Lets connect. Read Post »
In our recent blog posts, we discussed risk management within the manufacturing sector. However, from the onset of the Industrial
Industrial Revolution Read Post »
𝗔 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗻𝗴 𝗣𝗿𝗼𝗰𝗲𝗱𝘂𝗿𝗲 (𝗦𝗢𝗣) is a set of written instructions documenting an organization’s routine or repetitive activity. SOP helps
A Standard Operating Procedure (SOP) Read Post »
Starting from Monday, i.e., from 1 January 2024, it is now mandatory for all packaged goods to display the ‘𝗱𝗮𝘁𝗲
Efficient and effective achievement of objectives is crucial for companies, hinging on robust processes. With sturdy processes, your business may
The basics of analyzing your current state process- Read Post »
In today’s business landscape, achieving significant customer outreach relies heavily on establishing branches or offices nationwide. As a result, companies
Fixed Assets Verification Read Post »
Organizations are made up of hundreds and often thousands of processes. Strategic leaders often need help with process issues such
“We are what we repeatedly do. Excellence, then, is not an act, but habit.” Read Post »
It is a bitter fact that most organizations experience a difficult time managing fixed assets since they need to know
Challenges of fixed asset verification Read Post »
The mentality behind good quality fixed asset verification and poor quality fixed asset verification can significantly impact an organization’s overall
𝗙𝗶𝘅𝗲𝗱 𝗮𝘀𝘀𝗲𝘁 𝘃𝗲𝗿𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗰𝗵𝗲𝗰𝗸𝗹𝗶𝘀𝘁. Undoubtedly, there is a necessity for conducting fixed asset verifications. The following approach ensures the efficient
Fixed asset verification checklist. Read Post »
Fixed asset verification is the process of tracking a physical object you would consider an asset to your business. Organizations
Revolutionize your asset management strategy with Precision Read Post »
Asset tagging involves attaching tags or labels to assets for individual identification and continuous data tracking, from real-time location to
What is Fixed Asset Tagging? Read Post »
𝗧𝗵𝗲 𝗞𝗚𝗔𝗖 𝘁𝗲𝗮𝗺 has been working with Financial Institutions, and we cherish the moment when we see more recruitments in
Experts from the Economics Times Read Post »
𝗧𝗵𝗲 𝗥𝗲𝘀𝗲𝗿𝘃𝗲 𝗕𝗮𝗻𝗸 𝗼𝗳 𝗜𝗻𝗱𝗶𝗮 has acted upon one of India’s prominent payment apps, prohibiting the entity from providing additional
RBI acted on India’s prominent Payment App Read Post »
Food safety verifications play a critical role in ensuring the safety and quality of food products. They promote accountability among
The importance of food safety verification Read Post »
One shared objective among leaders in the 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗮𝗻𝗱 𝗡𝗕𝗙𝗖 𝘀𝗲𝗰𝘁𝗼𝗿𝘀 is to maintain a strong commitment to safeguarding their
Steps to establish a compliance process that is both effective and manageable… Read Post »
𝗦𝗢𝗣𝘀 𝗮𝗻𝗱 𝗶𝗻𝘁𝗲𝗿𝗻𝗮𝗹 𝗰𝗼𝗻𝘁𝗿𝗼𝗹 are essential for companies of various sizes, whether small, medium, or large.Today, I am writing about
Synergy of Delegation and Sop… Read Post »
RBI issued the Compliance Circular on April 11, 2022. It’s for certain types of NBFCs -𝐌𝐢𝐝𝐝𝐥𝐞 𝐋𝐚𝐲𝐞𝐫 (𝐍𝐁𝐅𝐂-𝐌𝐋) 𝐚𝐧𝐝 𝐔𝐩𝐩𝐞𝐫
Compliance risk assessment methodology for NBFCs Read Post »
✅𝗟𝗲𝘃𝗲𝗹 𝟭 “𝗜𝗻𝗶𝘁𝗶𝗮𝗹 (𝗖𝗵𝗮𝗼𝘁𝗶𝗰) 𝘁𝗼 𝗟𝗲𝘃𝗲𝗹 𝟮 𝗥𝗲𝗽𝗲𝗮𝘁𝗮𝗯𝗹𝗲 The first step is awareness. When we hear of the same issues
How can we use the process maturity levels? Read Post »