Due Diligence as per RBI requirement.

[Pawan Vani & Associates]

Dear All,

Please note that the Reserve Bank of India vide its Circular No. DBOD NO. BP. BC. 46/08.12.001/2008-09 dated September 19, 2008 advised all the scheduled commercial Banks (excluding RRBs and LABs) to obtain regular certification (DILIGENCE REPORT) by a professional, preferably a Company Secretary, regarding compliance of various statutory prescriptions that are in vogue, as per specimen given in the aforesaid notification. 

RBI has subsequently vide Circular No. RBI/2008-2009-313/DBOD No. B.P. BC 94/08.12.001/2008-2009 dated December 08, 2008 revised and streamlined the formats. 

Subsequently RBI vide its Circular No. UBD.PCBNo. 36/13.05.000/2008-09 dated January 21, 2009 advised all Primary Urban Co-operative Banks to also obtain Diligence Report. The formats have been revised vide RBI Circular No. DBOD.No. BP.BC.110/08.12.001/2008-09 dated February 10, 2009.

Please update as to whether the format has been revised/updated keeping in view the Companies Act'2013.

Thanks & Regards,

​

​K Bharti.

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Pawan Vani & Associates,
Asha Chambers,
Suite No - 23, 1st Floor,
6B, Bentick Street, Kolkata - 700001.
Landline : 033 3329 0188.