Operational-Risk Definition, Classification and Event Types

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Operational-Risk Definition, Classification and Event Types - Article

This article explains operational risk as losses arising from failures in processes, people, systems or external events. It distinguishes operational-risk causes from regulatory loss-event classifications and explains the seven major event types used by RBI. The article also covers legal, technology, cyber and process risks, practical banking examples and common CAIIB conceptual traps.

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