Financial Daily from THE HINDU group of publications
Monday, Feb 20, 2006
Financial Daily from THE HINDU group of publications Monday, Feb 20, 2006 |
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Opinion
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Letters Banking issues
In its attempt to give more autonomy to PSU banks, the Government has taken a decision to allow them to appoint statutory central auditors and branch auditors directly from the comptroller and Auditor General and the ICAI. The decision is welcome keeping in view the competition from the private banks who are already vested with such power of appointment of auditors without any interference from the government. But the reporting level of PSUs and private sector banks differ as do their individual functionary levels. Hence, it would be better to appoint the statutory auditors from the panel maintained with the RBI to avoid controversy. D. Suresh Babu Hyderabad
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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