Compliance with Jilani Committee Recommendations

It has now been decided that, henceforth, the compliance to the Jilani Committee recommendations need not be reported to the Audit Committee of the Board of Directors (ACB) . However, banks should ensure that:

i)     Compliance to these recommendations are complete and sustained,

ii)  These recommendations are appropriately factored in the internal inspection/audit processes of banks and duly documented.

Based on the RBI notification dated 28/04/2016. Please refer www.rbi.org.in in case of any further clarification………….. Poppy