..........Referring to the complications being faced by primary agricultural cooperatives in bearing the audit cost, he said the new amendment will clear the confusions. Asked whether such societies could opt for independent audit by chartered accountants as required by the Banking Regulation Act and accepted by the Reserve Bank of India (RBI), he said as per the Central Act, the State Government can have the option of either independent audit by chartered accountants or statutory audit by cooperative auditors. He, however, said that the RBI would have to comply with the provisions of the amendment Act and there would not be a situation forcing the societies to go for both audit...........
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment