Banks rushing to spruce up risk management

INDIA - Banks are rushing to put in place safeguards and controls to improve their risk management ability. Even as the Reserve Bank of India's (RBI) draft guidelines on "risk management systems in banks" were put in October 1999, banks - especially those in the public sector - failed to react immediately. Now, it's good business for consultants.

Bank of Baroda, Bank of Rajasthan, Jammu & Kashmir Bank, Exim Bank and IndusInd Bank, as well as Gilts Securities Trading Corporation and even ITC in