RBI/2009-10/281
Ref.DBS.ARS.BC.No.09/ 08.92.001/ 2009-10

 December 31, 2009

The Chairman & Managing Director, all Nationalised Banks and
The Managing Director, Associate Banks of SBI

Dear Sir/Madam,

Remuneration payable to the Statutory Central and
Branch Auditors of Public Sector Banks from the year 2006-07

Please refer to our circular DBS.ARS.No.BC.3/08.92.001/2007-08 dated July 25, 2007 on the captioned subject.

2. The matter regarding assignment of the tax audit work to one of the SCAs and fee payable to SCA so selected was reviewed and it has been decided that PSBs may appoint at the Head office level also any chartered accountant firm as their tax auditor at a reasonable fee with the approval of their Board /ACB.

3. Please acknowledge receipt.

Yours faithfully

(P.S. Sharma)
General Manager