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Efforts being made to reduce bank branch audit limit: ICAI

June, 25th 2013
The Institute of Chartered Accountants of India today said concerted efforts are being made to convince the government to reduce the statutory bank branch audit limit to Rs six crore in public interest. The ICAI said in a release that it would like to clarify media reports that the present limit for statutory bank branch audit is still Rs 20 crore (of advances) and not Rs 50 crore.