The Reserve Bank of India has issued Master Direction for Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2016. The Directions shall apply to every auditor of Non-Banking Financial Company as defined in section 45 I(F) of the Reserve Bank of India Act, 1934 (the RBI Act). The Direction provides provision for Auditor to submit additional Report to the Board of Directors, Auditor to submit Exception Report to the Bank and Repeal Provisions. These directions shall come into force with immediate.
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