prpri Empanelment for Stock Audit with Union Bank of India Empanelment for Stock Audit with Union Bank of India

Union Bank of India

Date: 24.06.2021

Notification For Inviting Applications From Eligible Applicants For Empanelment As Stock Auditors For The Bank

Applications are invited for empanelment of Stock Auditors, subject to fulfilment of the Eligibility Criteria related to educational qualifications, experience & other requirements (Annexure-1). The scope of conducting stock audits by the empanelled Stock Auditors will generally be restricted to the eligible accounts financed by the Bank within the jurisdictional area of Zone of the Bank opted by the Applicant, as the empanelment of Stock Auditors will be made zone-wise. The terms of engagement for empanelled Stock Auditors are given in Annexure-2.

The Stock Auditors already empanelled with Union Bank of India or e-Andhra Bank, or e-Corporation Bank, will also have to apply afresh, as new panel will be prepared taking into consideration the overall requirements of the amalgamated entity.

The interested applicants can download Application Format from Bank’s Corporate Website at URL: ( The applicants shall submit (at their own cost) two sets of duly completed and signed Applications (including self- scoring at the end) along with self-attested copies of supporting documents, at any Regional Office within the opted Zone of Union Bank of India. It shall be ensured that each sheet of the proposal bears round rubber stamp of applicant firm and initials/ signatures of authorised person.

The applications shall be accepted at Regional Offices during bank’s working hours between 01.07.2021 and 22.07.2021 (both days inclusive). No application will be accepted for current empanelment process after 22.07.2021. Any application not supported by the required documents OR if the original documents are not presented for verification at Regional Office within prescribed timelines, is liable to be summarily rejected.

The applicants will also have to present (at their own cost) the originals of all supporting documents attached with the Application for verification at the same Regional Office (with prior appointment), within 3 (three) bank’s working days of submission of application. List of Bank’s Regional Offices under each Zone is available in Annexure-3.

The applicants should not submit any application / documents directly to Bank’s Zonal Office (FGMO) and / or Central Office.

The empanelment as Stock Auditor (including number of Stock Auditors) will be done at the sole discretion of the Bank and the Bank reserves its right of rejecting any of /all the applications, without assigning any reason there-off. It is clarified that the empanelment as Stock Auditor neither guarantees regular assignments, nor does it tantamount to Contract of Employment with the Bank.

In case any applicant (firm / individual / proprietor / partner) has been found guilty of misconduct in professional capacity in any Bank / Institution and his / her name has been circulated / reported by Indian Banks Association (IBA)/ Reserve Bank of India (RBI) / Securities and Exchange Board of India (SEBI) / Governing Institute/ Any Regulatory or Statutory Authority/ Any Govt. Agency or Body, his/ her application will not be considered for empanelment as Stock Auditor.

If the performance of any empanelled Stock Auditor is found to be unsatisfactory or he/she is found involved in any misconduct in professional capacity / unwarranted practice / frauds, the Bank can remove such Stock Auditor/s from the panel at its sole discretion.The name/s of the stock auditors depanelled by Bank will be informed to IBA for circulation among member Banks.

In the event of any changes in the regulatory / government guidelines OR Bank’s Policy, the Bank shall have right to depanel the selected Stock Auditors at any time during the period of empanelment at the sole discretion of the Bank.

For any clarifications, the applicant may contact the nearest Regional Office of Union Bank of India.

General Manager
MSME Department
Central Office, Mumbai

Download Notice Inviting Applications From Eligible Applicants For Empanelment As Stock Auditors For Union Bank of India with Annexures

More Under CA, CS, CMA

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

July 2021