Risk management had emerged as a very important function of the board, says the Board.
SEBI on Tuesday proposed extending the requirement of constituting a risk management committee to the top 1,000 listed entities from 500 at present.The risk management committee should meet at least twice a year from the current practice of minimum one meeting, SEBI said in a paper.Considering the multitude of risks faced by listed entities, the regulator said risk management had emerged as a very important function of the board. The COVID-19 pandemic had reinforced the need for a robust risk management framework, it added.
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