On 9 July 2024, a conference of Statutory Auditors and Chief Financial Officers (CFOs) of commercial banks and All India Financial Institutions organised was held by the RBI wherein Mr. Swaminathan Janakiraman, Deputy Governor, remarked specifically on usage of ‘internal accounts’ by the banks.
Pursuant to this, KPMG in India has created a document focusing on ‘Internal Office accounts’ covering usage and common challenges faced along with immediate actions banks may take for addressing these challenges.
