“During the year 2009-10, the following 15 PSBs have exercised managerial autonomy in regard to selection and appointment of SBAs, viz. State Bank of India, Allahabad Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Indian Overseas Bank, Oriental Bank of Commerce, Punjab National Bank, Syndicate Bank, UCO Bank, Union Bank of India, Punjab & Sind Bank and Andhra Bank.
The names of audit firms recommended by these 15 banks and approved by RBI are displayed on the web-for list of names of firm please visit :
The names of auditors forwarded by RBI to the 11 PSBs which have not opted for managerial autonomy for the year 2009-10 are also displayed on the web-site.
The information in regard to branches allotted to these audit firms will be published on the web-site, after receipt of the information from the respective banks. Banks have been advised to furnish the information regarding allocation of branches latest by April 30, 2010.
While forwarding names of audit firms, banks have been advised that not more than three branches may be allotted per audit firm and that they should allot branches, to the extent possible, to the audit firms taking into consideration their category and audit experience in such a way that bigger branches are audited by larger/experienced audit firms. It is not necessary that all the audit firms whose names are forwarded by RBI to various banks are allotted branch audit by the respective banks, as sufficiently higher number of audit firms are forwarded to banks in order to enable them to allot audit assignments as per their logistic requirements. It also often happens that some of the audit firms whose names are forwarded are either not allotted any audit assignment or are allotted assignment by some other bank, after their names are returned back to RBI due to various reasons and re-allotted/ considered for re-allotment, if any, required by some other bank.