The Reserve Bank of India (RBI) has informed the Comptroller and Auditor General of India that henceforth the central bank alone will audit the Jammu and Kashmir Bank.

“We have been asked by the RBI to stop auditing the J&K Bank account books,” a CAG official told BusinessLine.

J&K Bank was the only one which the CAG was auditing.

If one goes strictly by precedence then all banks are under the ambit of RBI. J&K Bank was a special case, said the official, adding that it has always seen as a government bank.

The bank has been drawing flak from the CAG for various issues, such as corporate governance and non-disclosure of NPAs, among others. #casansaar (Source - RBI, The Hindu Business Line)