The Chairman & Managing Director, all
Nationalised Banks and
The Managing Director, Associate Banks of SBI
Dear Sir/Madam,
Remuneration payable to the Statutory Central
and
Branch Auditors of Public Sector Banks from the year 2006-07
Please refer to our circular
DBS.ARS.No.BC.08/80.92.100/2006-07 dated June 06, 2007 on
remuneration payable to statutory central and branch auditors of
public sector banks from the year 2006-07.
2. As per para H of the above circular, the
reimbursement of lodging charges to partners/proprietors/qualified
and unqualified assistants of audit firms has been linked to IBA
approved rates for bank officials. However, it has been brought to
our notice that the IBA has since discontinued the practice of
approving rates and has advised its member-banks to enter into
arrangements at the bank level with reputed hotels to facilitate
stay of their officials while on duty outside the Headquarters.
3. In view of the above, it has been decided
that for the purpose of reimbursement of the lodging charges
payable to statutory auditors, the banks may adopt the
category-wise limits fixed for lodging charges payable to their
officials while they are on duty outside the Headquarters. That
is, banks may reimburse lodging charges to their statutory
auditors as under :
