RBI Unveils Layout for Appointment/Re-appointment of Statutory Auditors for State & Central Co-operative Banks
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- Last Updated on 17 January, 2024
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Circular No.RBI/2023-24/113 Ref.No.DOS.ARG/SEC.8/08.91.001/2023-24, Dated:15.01.2024
The RBI has issued guidelines for the appointment or re-appointment of Statutory Auditors (SAs) of State and Central Co-operative Banks (StCBs/CCBs). The guidelines shall be applicable from April 1, 2024, and the banks shall seek prior approval for the appointment of SAs before July 31 of the reference financial year. The guidelines focus on
a) eligibility criteria
b) Review performance of SAs
c) Independence of Auditors
d) Tenure and Rotation of SAs.
Click Here To Read The Full Circular
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