The answer depends upon one question. Is it regulatory required or not. If yes, then you have no option. If not regulatory required, then it depends upon you. If you ask Riskpro, it is always a good idea to have an effective risk management structure. For example, recently, State-run National Bank for Agriculture and Rural Development (Nabard) has asked regional rural banks (RRBs), state cooperative banks (SCBs) and district central cooperative banks (DCCBs) to formulate their risk management policy and constitute risk management committee. What this means is that there is a stronger focus to bring these more in lines with better practices and in line with other credit institutions such as banks. Nabard has stated that the risk management framework should be oriented towards the institutions size, complexity of business and market perception. So, although there is flexibility in what goes in the policy, the fact is that the policy is required. NABARD has stressed on the need for strong credit risk elements to be part of the risk management policy. It believes that a strong credit risk management will go a long way in stemming the losses from credit defaults. Nabard also wants banks to devise a grading system to enable comparisons of risks for purposes of analysis and top management decision-making. But such grading system should be flexible and able to accommodate future refinements in risk Categorisation. Such types of notifications will soon start to be issued for other types of corporates, institutions, industry. So, wny not be prepared and be a mover when it is your turn to be compliant.