The Reserve Bank of India (RBI) has kicked off its annual financial inspection (AFI) of public banks in June well ahead of its normal schedule of the second quarter of the financial year as majority of the banks were able to finalise their balance sheet for 2001-02 by mid-May and early June.
Except for State Bank of India (SBI), which declared its results on June 20, all other public banks were able to report their audited financial performance in early-June. Thanks to the early declaration results most of the banks are also close to completing their long format audit report.
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