Press Release: 2021-2022/115 / Notification No. RBI/2021-22/25 Ref. No. DoS. CO. ARG/SEC.01/08.91 .001/2021-22 -
Issue of Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs Reserve Bank of Indiaand NBFCs (including Housing Finance Companies)...
RBI/2021-22/25 Ref. No. DoS.CO.ARG/SEC.01/08.91.001/2021-22 -
As per Para 6.4, whether the time gap of one year between any non-audit works by the SCAs/SAs for the Entities or any audit/non-audit works for its Group Entities has to be ensured for all the Entities in the Group or the RBI Regulated Entities in the Group?...
RBI/2020-21/33 Ref.No.DOS.CO.PPG./SEC.01/11.01.005/2020-21 -
Keeping in view the large scale changes in the size, complexities, business model and risks in the banking operations, a review of the LFAR formats, in consultation with the stakeholders, including the Institute of Chartered Accountants of India (ICAI), was undertaken and it has been decided to make the following changes....
DOS.ARG.No.6605 /08.91.001/2019-20 -
In view of the difficulties expressed by certain banks in the matter of conducting Statutory Branch Audit in PSBs on account of lockdown situation prevailing due to the spread of COVID-19 in the country, the matter was examined by RBI....
RBI/2019-20/219 DOR.No.BP.BC.62/21.04.048/2019-20 -
Reserve Bank of India RBI/2019-20/219 DOR.No.BP.BC.62/21.04.048/2019-20 April 17, 2020 All Scheduled Commercial Banks (excluding Regional Rural Banks); All India Financial Institutions (NABARD, NHB, EXIM Bank, and SIDBI); All Systemically Important Non-Deposit taking Non-Banking Financial Companies (NBFC-ND-SI) and Deposit taking Non-Bank...
RBI/2019-20/220 DOR. No. BP. BC. 63/21.04.048/2019-20 -
In respect of all accounts classified as standard as on February 29, 2020, even if overdue, the moratorium period, wherever granted, shall be excluded by the lending institutions from the number of days past-due for the purpose of asset classification under the IRAC norms....
RBI/2019-20/186 DOR.No.BP.BC.47/21.04.048/2019-20 -
The rescheduling of payments, including interest, will not qualify as a default for the purposes of supervisory reporting and reporting to Credit Information Companies (CICs) by the lending institutions. CICs shall ensure that the actions taken by lending institutions pursuant to the above announcements do not adversely impact the credit ...
F. No. 7/31/2012 -BOA.I -
In order to bring promptness and uniformity, it has been decided that after closure of accounts on 31st March of the financial year, the PSBs will follow the following schedule in this regard -...
RBI/2019-20/64 DBS.CO.ARS.No.BC.01/08.91.021/2019-20 -
As you are aware, concurrent audit aims at shortening the interval between a transaction and its independent examination. It is, therefore, integral to the establishment of sound internal accounting functions and effective controls and is regarded as part of a bank's early warning system to ensure timely detection of serious errors and ir...
Press Release: 2017-2018/3425 -
In the interest of improving audit quality and with a view to instituting a transparent mechanism to examine accountability of SAs in a consistent manner, it has been decided to put in place a graded enforcement action framework to enable appropriate action by the RBI in respect of the banks’ SAs for any lapses observed in conducting a ...