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Sr. No. Description of Regulatory Approval Time required
1. Approval given to banks and Financial Institutions for Statutory Central Auditors and Statutory Branch Auditors  
i) Public Sector Banks:  
a) Statutory Central Auditors 15 days
b) Statutory Branch Auditors 30 days
ii) Private Sector Banks/Foreign Banks:  
a) Statutory Central Auditors 30 days
b) Statutory Branch Auditors 30 days
iii) Overseas branches of Indian Banks:  
Statutory Auditors 30 days
iv) Select Financial Institutions:  
Statutory Auditors 21 days
v) Cooperative Banks:  
Statutory Auditors 31 days