RBI gave special orders to officials, banks will not act arbitrarily

Now the banks of the country will neither be able to work as per their will nor will they be troubled. The bank i.e. Reserve Bank of India is implementing strict rules in some cases. There will be no compromise. For this, they have also sent a message of zero tolerance to the officers and auditors of the banks. So know what has been said in this message.

There will be a meeting soon

The Reserve Bank of India is going to hold a big meeting with the chief financial officers and external auditors of all the commercial banks of the country on Tuesday i.e. today. Earlier, the RBI also announced the agenda of this meeting.

This negligence will cost you heavily

The central bank asked the chief financial officers and auditors of all banks to adopt a zero-tolerance approach towards lapses in compliance and regulatory norms. Based on sources familiar with this, it has been reported that RBI's 2 deputy governors M. Rajeswara Rao and J. Swaminathan will hold a meeting with the bank's CFOs and auditors.

The balance sheet must be kept very clean

In this meeting, RBI can order the CFO and auditors of the bank to comply with the obligation of keeping the balance sheet of the bank clean. The balance sheet should give a fair estimate of the financial position of the bank.

Lack of trust between banks and auditors

According to available information, there is a constant rivalry between banks and auditors. One reason for this is the lack of trust. The other reason is the difference between the two regarding the definition of rules. The biggest issue of dispute is income recognition and loan provision.