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RBI comes up with guidelines for Appointment of Statutory Central Auditors of Commercial Banks, UCBs and NBFCs

April 27, 2021
The RBI has issued guidelines for Appointment of Statutory Central Auditors of Commercial Banks, UCBs and NBFCs. These guidelines will be applicable to the Commercial Banks (excluding RRBs), UCBs and NBFCs including HFCs. for Financial Year 2021-22 and onwards in respect of appointment/reappointment of SCAs/SAs. However, non-deposit taking NBFCs with asset size2 below ₹1,000 crore have the option to continue with their extant procedure.
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