RBI / 2004 / 111
UBD. No. BSD. IP. 39 /12.05.01/ 2003-2004
March 20 , 2004
The Chief Executive Officers of
All Primary (Urban) Co-operative Banks
Dear Sir,
Concurrent Audit – Serious irregularities
Please refer to our circular UBD No. BPD.CIR. 37 /09.06.00
/ 2002-03 dated March 6, 2003 advising all Urban Co-operative Banks to introduce
concurrent audit.
2. We advise that if any serious irregularities are brought
out in the Concurrent Audit Report by the Concurrent Auditors, the bank should
immediately report the matter to the respective Regional Office of Reserve Bank
of India together with the details of action taken to rectify the same.
3. Please acknowledge receipt of this circular to our Regional
Office.
Yours faithfully,
(A.V.Sabhapathy)
Deputy General Manager
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