RBI conducts special audit of subsidiary Srei Infrastructure Finance

The Reserve Bank of India (RBI) conducts a special audit of Kolkata-based lender Srei Infrastructure Finance and its subsidiary Srei Equipment Finance. The lender stated in a notice to the exchange that the RBI has appointed an auditor to carry out a special audit in the exercise of authority under Section 45 MA (3) of the RBI Act of 1934.

Based on the section above, RBI may conduct a special audit of a non-bank financial company’s account at any time if there is an opinion that it should be done for the public good or for the benefit of the public. For the benefit of non-bank financial companies or depositors of such companies.

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First Edition: Friday, November 20, 2020. 21:46 IST

RBI conducts special audit of subsidiary Srei Infrastructure Finance

Source link RBI conducts special audit of subsidiary Srei Infrastructure Finance

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