As per unconfirmed new received by us from our sources RBI has increased Audit fees for statutory Audit of  Branches of Public Sector Banks for the financial year 2011-12. RBI has further increased  time line to complete the audit to 21 April at branch level.

A fom
Category of bank branch
Rates of audit fees  Revised Rates of audit fees 
(on the basis of quantum of advances) (Rs.) New Fees
Upto Rs.75 lakh 12,500/-                                   15,625
Above Rs.75 lakh and upto Rs.150 lakh 15,000/-                                   18,750
Above Rs.150 lakh and upto Rs.300 lakh 22,500/-                                   28,125
Above Rs.3 crore and upto Rs.5 crore 30,000/-                                   37,500
Above Rs.5 crore and upto Rs.10 crore 35,000/-                                   43,750
Above Rs.10 crore and upto Rs.20 crore 50,000/-                                   62,500
Above Rs.20 crore and upto Rs.30 crore 69,000/-                                   86,250
Above Rs.30 crore and upto Rs.50 crore 1,05,000/-                                 131,250
Above Rs.50 crore and upto Rs.75 crore 1,20,000/-                                 150,000
Above Rs.75 crore and upto Rs.125 crore 1,59,000/-                                 198,750
Above Rs.125 crore and upto Rs.175 crore 1,99,000/-                                 248,750
Above Rs.175 crore and upto Rs.300 crore 2,50,000/-                                 312,500
Above Rs.300 crore and upto Rs.500 crore 2,82,000/-                                 352,500
Above Rs.500 crore 3,13,000                                 391,25

Further update on above on 07.04.2012 –  No confirmation from RBI or ICAI of above. It seems some tried to make fool to all of us a day before fools day.

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