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

(ii) During the FY 2021-22, 12 PSBs had appointed Statutory Branch Auditors (SBAs), exercising managerial autonomy granted to them in this regard, based on the norms on eligibility, empanelment and selection of Statutory Branch Auditors in Public Sector Banks, issued by RBI.

(iii) 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.

(iv) While approving names of audit firms, banks were advised to allot not more than three branches per audit firm and to 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.