Reserve Bank of India (Commercial Banks – Concurrent Audit) Directions, 2026

Source: Reserve Bank of India

Category: Digital Lending

Published: Fri, 31 Jul 2026 16:00:00

RBI/DoS/2026-27/409 DoS.CO.ARG.3/08.91.021/2026-27 July 31, 2026 Reserve Bank of India (Commercial Banks – Concurrent Audit) Directions, 2026 Table of Contents Chapter I - Preliminary A. Short Title and Commencement B. Applicability C. Definitions Chapter II - Governance and Oversight A. Role of the Board and Senior Management Chapter III - Guidelines for Concurrent Audit A. Coverage B. Appointment of Concurrent Auditors C. Accountability D. Tenure E. Remuneration F. Reporting System Chapter IV - Repeal and Other Provisions A. Repeal and Saving B. Application of Other Laws Not barred C. Interpretations Introduction Concurrent audit aims at shortening the interval between a transaction and its independent examination. It is, therefore, integral to the establishment of sound internal accounting functions and effective controls and is regarded as part of a bank's early warning system to ensure timely detection of serious errors and irregularities, which also helps in averting fraudulent transactions and preventive vigilance in the bank. In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949, and all other provisions / laws enabling the Reserve Ban