RBI/2021-22/132
DoS.CO.PPG./SEC.06/11.01.005/2021-22
November 16, 2021
All Scheduled Commercial Banks (including all Small Finance Banks & all Payments Banks),
Local Area Banks &
All Primary Urban Cooperative Banks
Madam/Dear Sir,
Regulations Review Authority (RRA 2.0) – Interim Recommendations – Withdrawal of Redundant Circulars
Please refer to the Press Release dated November 16, 2021 issued on the captioned subject.
2. The circulars listed in the Annexure are withdrawn with effect from close of business today.
Yours faithfully,
(Ajay Kumar Choudhary)
Chief General Manager-in- Charge
Encl: As enclosed
| S. No. | Circular Referred | Date | Subject | Effective date of Supersession/withdrawal | Circular No. vide which Superseded |
| 1 | DBOD.No.APP.BC.118/C.452(K)-89 | April 22, 1989 | Appointment of Statutory (Central / Branch) Auditors as Internal Auditors of Banks | December 31, 2008 | DBS.ARS.No.BC.02/08.91.001/2008-09 |
| 2 | DBOD.No.BC.182/16.13.100/93-94 | October 11, 1993 | Introduction of a System of Concurrent Audit in Banks as Recommended by the Ghosh Committee on Frauds and Malpractices in Banks | August 14, 1996 | DOS.No.BC.16/08.91.021/96 |
| 3 | DOS.No.BC.16/08.91.021/96 | August 14, 1996 | Concurrent Audit System in Commercial Banks - Revision of RBI's Guidelines | July 15, 2015 | DBS.CO.ARS.No.BC.2/08.91.021/2015-16 |
| 4 | DBS.BC.33/08.91.021/1999-2000 | April 6, 2000 | Guidelines relating to Concurrent Audit System in Commercial Banks | July 15, 2015 | DBS.CO.ARS.No.BC.2/08.91.021/2015-16 |
| 5 | DBS.ARS.No.599/08.91.001/2002-03 | January 21, 2003 | Terms and Conditions of Appointment of Statutory/Concurrent/Internal Auditors - Implementation of the Recommendations of the Committee on Legal Aspects of Bank Frauds and the Recommendations of the High-Level Group set up by the Central Vigilance Commission (CVC) | August 27, 2004 | DBS.ARS.No.B.C.4/08.91.001/2004-05 |
| 6 | DBS.ARS.No.BC.18/08.91.021/2002-03 | June 24, 2003 | Concurrent Audit of Forex Transactions in Banks | July 15, 2015 | DBS.CO.ARS.No.BC. 2/08.91.021/2015-16 |
| 7 | DBS.ARS.No.BC.7/08.92.001/2003-04 | March 17, 2004 | Remuneration Payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2003-04 | June 6, 2007 | DBS.ARS.No.BC.08/08.92.001/2006-07 |
| 8 | DBS.ARS.No.BC.09/08.91.001/2003-04 | April 20, 2004 | Appointment of Statutory Auditors in Banks - Obtention of Declaration of Indebtedness | January 6, 2005 | DBS.ARS.No.B.C.15/08.91.001/2004-05 |
| 9 | DBS.ARS.No.BC.08/08.92.001/2006-07 | June 6, 2007 | Remuneration Payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2006-07 | June 25, 2013 | DBS.ARS.No.BC.08/08.92.001/2012-13 |
| 10 | DBS.ARS.BC.No.3/08.92.001/2007-08 | July 25, 2007 | Remuneration Payable to the Statutory Central and Branch Auditors of Public Sector Banks from the Year 2006-07 | June 25, 2013 | DBS.ARS.No.BC.08/08.92.001/2012-13 |
| 11 | DBS.ARS.BC. No.07/08.92.001/2007-08 | December 20, 2007 | Remuneration Payable to the Statutory Central and Branch Auditors of Public Sector Banks from the Year 2006-07 | June 25, 2013 | DBS.ARS.No.BC.08/08.92.001/2012-13 |
| 12 | DBS.ARS.BC.No.09/08.92.001/2009-10 | December 31, 2009 | Remuneration Payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2006-07 | June 25, 2013 | DBS.ARS.No.BC.08/08.92.001/2012-13 |
| 13 | DBS.CO.ARS.BC.8/08.91.001/2014-15 | June 4, 2015 | Submission of Long Form Audit Report (LFAR) by Concurrent Auditors | January 7, 2021 | Norms on eligibility, empanelment and appointment of Statutory Branch Auditors in Public Sector Banks from the year 2020-21 and onwards |
| 14 | DBS.CO.ARS.No.BC. 2/08.91.021/2015-16 |
July 15, 2015 | Concurrent Audit System in Commercial Banks - Revision of RBI's Guidelines | September 18, 2019 | DBS.CO.ARS.No.BC.01/08.91.021/2019-20 |
| 15 | UBD.BPD(PCB).Cir.No. 22/12.05.001/2011-12 |
March 1, 2012 | Supervisory Action Framework for Urban Cooperative Banks (UCBs) | November 27, 2014 | DCBR.BPD.(PCB).Cir No.3/12.05.001/2014-15 |
| 16 | UBD.CO.BPD(PCB).Cir.No. 20/12.05.001/2012-13 |
October 17, 2012 | Supervisory Action Framework (SAF) for Urban Co-operative Banks (UCBs) | November 27, 2014 | DCBR.BPD.(PCB).Cir No.3/12.05.001/2014-15 |
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Notification No : RBI/2021-22/132 DoS.CO.PPG./SEC.06/11.01.005/2021-22Published in Others
Source : https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12201&Mode=0