RBI/2010-11/340
DPSS.CO.OSD. No. 1444 /06.11.001/2010-2011

December 27, 2010

To
All Scheduled Commercial Banks / Authorised Payment System Operators

Dear Sir,

Directions for submission of system audit reports from CISA qualified Auditor

Please refer to our circular Ref No. DPSS.1206/ 02.27.005/2009-10 dated 7th December 2009 on the captioned subject.

2.   All authorised entities are advised to furnish their respective system audit reports from a CISA qualified auditor on an annual basis. Authorised entities which follow an April-March financial year, the system audit report should be submitted within two months i.e. by 1st June of that year. Authorised entities, which follow a calendar year annual closing, are advised to submit their system audit reports by 1st March of the following year.

3.   These directions are issued under Section 6(1) of the Payment and Settlement Systems Regulations 2008 read with Section 12 of the Payment and Settlement Systems Act, 2007.

Yours faithfully

G. Srinivas
(General Manager)