Company Registration 17 October 2026
IIB Calls PSBs to Halve Audits
The Institute of Banking (IIB) has advised public sector banks to limit physical branch audits to no more than half of their total business, aiming to cut costs and improve efficiency. The recommendation comes as the Ministry of Corporate Affairs and the Institute of Company Secretaries of India prepare an AOC‑4 user awareness session on October 19, 2026, while banks contend with portal glitches and numerous extension requests for filings.
IIB recommendation: Public sector banks should cap physical branch audits at 50% of total business.
- Goal: lower audit expenses and streamline processes.
- Timing: coincides with an AOC‑4 user awareness session on 19 Oct 2026 organized by MCA and ICSI.
- Context: banks are dealing with portal glitches and filing‑extension requests.
For full details, read the original article.
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