Risk Management Policy
The objective of this policy is to outline the company’s approach to risk management and integrate it into daily operations which will help in improved decision making, accountability and outcomes. This policy lays down the guidelines in accordance with RBI to identify, access and prioritize risk and to formulate strategies for effective mitigation of the risk.
Light Microfinance Pvt. Ltd. (Light) will continuously identify various risks which directly or indirectly effects the functioning of the company.
Light will ensure protection of rights and values of stakeholders by formulating effective risk mitigation strategies.
Light will have risk management committee which will be responsible for ensuring identification, measuring and effectively mitigation of the current and foreseen risks.
All employees of Light will be responsible and accountable for managing risks within their area of responsibility.
Light will ensure that proper training is given to employees as and when required which will enable them to effectively control the current risk and identify and strategize for foreseen risks.
Light will ensure non-discrimination in managing risk associated with its human resource.
Light will ensure that all its policies and documents are in accordance with the regulatory norms and are reviewed within the time as decided by the board.
Light will ensure that risk management procedural manuals related to all identified risks are documented and circulated to all its human resource.