RBI/2013-14/299
UBD.BPD.(PCB)CIR No. 22 /13.05.006/2013-14

September 30, 2013

The Chief Executive Officers of
All Primary (Urban) Co-operative Banks

Madam/Dear Sir,

Performance Audit of Agricultural Debt Waiver & Debt Relief Scheme
(ADWDRS), 2008 by CAG & Re-verification Exercise by the banks

Please refer to our Circular UBD.BPD. (PCB) Cir. No.40/13.05.006/2012-13 dated March 7, 2013, in terms of which Urban Co-operative Banks (UCBs) were advised to conduct a complete verification of all the beneficiaries’ list under ADWDRS, 2008 and also draw up a list of eligible beneficiaries who were not given benefit under the scheme. The Government of India and RBI have been receiving the details of the progress made in this regard and some UCBs are yet to confirm having completed the exercise.

2. Considering that there is a wide divergence between the percentage of errors found in the sample audit carried out by CAG and the percentage of errors found by banks while conducting their own verification exercise, the Government has desired that all the banks should submit their auditors’ certificates with regard to accuracy of the re-verification exercise.

3. All UCBs are, therefore, advised to submit the auditors’ certificates regarding re-verification exercise to the Regional Office concerned. Please ensure that these certificates are submitted to the RO concerned on or before October 15, 2013 to enable us to apprise the position to the Government.

Yours faithfully

(P.K.Arora)
General Manager