Audit related information

Session dtd. : 28.09.2020

Time : 10.00 pm
Audit Pattern : RBIA
Risk Based Internal Audit System
Activities under inspection for Audit:
Deposit Mobilization
Increase in Advances
Probable NPA
Non Performing Assets
Verification of Loan documentations
Revenue leakage
Audit Pattern : RBIA
Risk Based Internal Audit System
Activities under inspection for Audit:
Profit/Loss
House Keeping
Branch computerization
Liabilities
Statutory Responsibilities
Other compliances
Audit Closure by :
RAC (Regional Audit Committee)
Audit /Inspection report should be sent to
branch after inspection : 15 days
Regional office is to be confirmed in 15 days
For action taken compliance
Maximum Time for compliance & closure : 60
days
Branch is to be done compliance in : 30 days
Additional 15 days can be given for
compliance by RO.
Audit Related:
Clean Rectification certificate should be in 60
days.
Disciplinary action should be taken for false
compliances.
Quick Mortality Loan : one year
Concurrent Audit Report : Monthly (10 cr &
above advances & Deposit of above 15 cr.)
Concurrent Audit Report should be closed
within : 15 days
Credit Audit should be of : above Rs.10 Lakhs
Audit Information :
Vetting of documents by Law officer : Rs.10
Lakhs
Credit Audit should be closed within : 15 days
Keys of branches should be changed in each
audit inspection
MMR should be submitted within 7 days of
loans above 50 lakhs
QMR should be submitted within 7 days of
loans above 10 lakhs up to 50 lakhs
Audit related:
Cash Verification report should be closed
within : as when
Credit Audit Report should be closed within :
15 days
Fire Audit should be audit/inspection report
Audit frequency for High Risk brs: 9 months
Audit frequency for Medium Risk : 12 months
Audit frequency for Low Risk : 15 months
Snap Audit for High Risk Branches : 3 months
Q 1. The maximum age limit for
engagement of Retired staff as concurrent
Audition may be hired at ?

(A) 60 years (B) 65 years

(C) 70 years (D) 72 years

Q 2. Targets under DAY-NULM ?

(A) beneficiaries
(B) minorities =
are SC/ST = 50% 15%

(C) Pension with (D) All of these

disability = 3% above
Q 3. Tarun loan minimum limit under Mudra
loan ?

(A) Rs. 50000 (B) Rs.500000

(C) Rs. 500001 (D) Rs. 1000000

Q 4. RBIA Audit report should be closed
within ?

(A) 15 days (B) 30 days

(C) 60 days (D) 90 days

Q 5. QMR Report should be submitted
within……days in loan a/cs above Rs.10 lakh up to
Rs. 50 Lakh?

(A) 3 days (B) 7 days

(C) 15 days (D) 30 days

Q 6. MMR report should be submitted in loan
a/cs of above Rs……….lakhs?
(A) 10 Lakhs (B) 20 Lakhs

(C) 50 Lakhs (D) 100 Lakhs

Q 7. Loan account are to be reported as Quick
Mortality accounts if slipped within……..months?

(A) 3 months (B) 6 months

(C) 12 months (D) 18 months

Q 8. What is the frequency for Audit/inspection
for Medium Risk branches?

(A) 3 months (B) 6 months

(C) 9 months (D) 12 months

Q 9. Credit Audit should be closed within….days?

(A) 7 days (B) 15 days

(C) 30 days (D) 45 days

Q 10. Clean Rectification Certificate should be
closed within…………..days from the
Audit/inspection report received date?

(A) 15 days (B) 30 days

(C) 45 days (D) 60 days

Thank you so much

By : Vijay Banka