RBI issues FAQs on clarifying Guidelines for Appointment of auditors for Banks, UCBs and NBFCs

The Reserve Bank of India (RBI) has recently issued Frequently Asked Questions (FAQs) on clarifying the Guidelines for Appointment of Statutory Central Auditors (SCAs) for Commercial Banks, UCBs and NBFCs. The above guidelines were issued in order to streamline the process of appointment of auditors across all the Regulated Entities and to avoid the conflict of interest in auditor’s appointment.

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