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Statutory Branch Auditors approved for appointment in Public Sector Banks and Allocation of Branches – 2019-20

Appointment of Statutory Central/Branch Auditors of Public Sector Banks (PSBs) is made in terms of various provisions of the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970/80, State Bank of India Act, 1955 and Banking Regulation Act, 1949.

During the year 2019-20, 18 Public Sector Banks appointed Statutory Branch Auditors (SBAs), based on the norms on eligibility, empanelment and selection of Statutory Branch Auditors in Public Sector Banks, exercising managerial autonomy granted to them in this regard.

The names of audit firms recommended by these 18 banks and approved by RBI can be accessed by clicking here. The bank-wise allocation of branches to the audit firms is hosted here.

While approving names of audit firms, banks were advised to allot not more than three branches per audit firm and that they should allot branches, to the extent possible, to the audit firms taking into consideration their category and audit experience in such a way that bigger branches are audited by larger/experienced audit firms.

Disclaimer: As the information relating to allocation of branches has been obtained from the banks, RBI is not responsible for any discrepancy/omission in the information published.