Who Would Audit the Central Bank?

.....The law says that ordinarily RBI will be audited by two auditors appointed by the GoI. It also says that the GoI may at any time appoint the CAG to examine the accounts of the RBI. However, this has never been done and the practice is chartered accountant firms audit RBI. Clearly, this is an unsatisfactory arrangement. It is unlikely that any private auditor will have the courage to point out problems, if any, in the finances and expenditures of RBI.................

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