RBI asks banks, NBFCs to appointment statutory auditors

In order to improve efficiency of cooperative banks and NBFC, Reserve bank of India has asked them to appoint statutory auditors.  RBI has published detailed guidelines for the same. These guidelines will be applicable to the Commercial Banks excluding Regional Rural Banks, Urban Cooperative banks, Non Banking Finance Companies including Housing Finance Companies. These will be applicable from the current financial year. For the first time such guidelines have been issued for Urban cooperative b...