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Statutory Branch Auditors approved for appointment in Public Sector Banks and Allocation of Branches – 2020-21

Appointment of Statutory Central/Branch Auditors of Public Sector Banks (PSBs) is made in terms of Section 10(1) of Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970/1980 and Section 41(1) of SBI Act, 1955.

During the year 2020-21, 12 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 12 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.