Statutory Bank Branch Audit year for advances above Rs. 6 Cr, Once in 3 year for below Rs. 6 Cr

It is learnt from reliable sources  that as a result of number of representation and hard efforts by  ‘ICAI’ before various concerned authorities, Reserve Bank of India has agreed to decrease the proposed limit of 20 crores of advances  to 6 crores  for compulsory statutory bank branch audit, however branches having advances below 6 crores will be audited  once in three years.

Communique in respect of above from ICAI President CA. Jaydeep N. Shah

“Dear Member,

It has been learnt that RBI has received communication regarding Bank Branch Audit allotment. All Bank Branches having advances of Rupees six crores and above and one third of the branches below six crores of advances will be audited.

CA. Jaydeep N. Shah
President, ICAI”

More Under Fema / RBI

Posted Under

Category : Fema / RBI (3547)
Type : News (13981)
Tags : Empanelment (512) RBI Notifications (2012)

Leave a Reply

Your email address will not be published.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

Featured Posts