Is there need for CAG audit of RBI accounts? - T. V. GOPALAKRISHNAN

.....In these circumstances, it is surprising that there is a vehement call to bring the RBI under CAG audit. That the RBI is corruption-free is a well-acknowledged. Therefore, CAG audit without any strong and justifiable reason will only add to the expenditure of the exchequer. The RBI is perhaps the only institution which is self-disciplined and self-audited, giving no scope for CAG audit in terms of coverage, content and scope and having all possible checks and balances on ‘income and expenditure’. Moreover, the accounts are extensively screened by the statutory auditors appointed in terms of RBI Act 1934, and are made available to the Government for presentation in Parliament......

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