Central Govt dilutes the bank audit system


Content Team

The Central Government has been accused of "diluting the bank audit system as well as the power of RBI for selection of auditors for auditing of banks" by the auditors and financial professionals. They have also pointed that the central govt has snatched authority of RBI's appointing statutory auditors of banks that they have not performed from 2014-15. They want the selection of bank central auditors under RBI.