Madam/Dear Sir,

The President, in terms of the authority given to him by the Council at its 314th meeting held from 10th to 12th February, 2012, has constituted a Group to examine the circular dated 12th August, 2011 of Reserve Bank of India regarding eligibility for statutory audit of private/foreign banks vis-à-vis public sector banks simultaneously and suggest the way forward for taking up the matter with the concerned authorities, comprising of the following members:-

• CA. Charanjot Singh Nanda, Chairman, Professional Development Committee, Convenor
• CA. Manoj Fadnis, Member
• CA. Nilesh S. Vikamsey, Member
• CA. Pankaj Jain, Member

CA. Namrata Khandelwal, Secretary, PDC would act as Secretary to the above Group.

The President has decided that the Group should submit its recommendations at the earliest.