 "RBI")
The Reserve Bank of India (RBI) seems to have dug in its heels on auditor appointments at banks and non-banking financial companies (NBFCs). It sees it as a ‘game-changing’ move, ensuring the independence of auditors, increasing opportunities for firms, and promising financial stability, revealed sources attuned to the RBI’s thinking.
In its April 27 norms on auditors, the RBI had said banks and NBFCs, excluding those that don’t take deposits and have a sub-Rs 1,000-crore asset base, must immediately bring in new auditors.
The para banks, however, were allowed to do the change from the second half of
In its April 27 norms on auditors, the RBI had said banks and NBFCs, excluding those that don’t take deposits and have a sub-Rs 1,000-crore asset base, must immediately bring in new auditors.
The para banks, however, were allowed to do the change from the second half of
