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ADWDRS 2008: UCBs must submit auditor certificates by Oct 15, 2013

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2013-14/299 · issued 30 Sep 2013 · ~2 min read
Quick answerRBI directs all Primary Urban Co-operative Banks to submit auditor certificates confirming accuracy of re-verification of beneficiaries under the Agricultural Debt Waiver & Debt Relief Scheme 2008, by October 15, 2013, due to wide divergence between percentage of errors found in CAG's sample audit and percentage of errors found by banks in their own verification.

What changed

RBI had earlier asked UCBs to verify all beneficiaries under ADWDRS 2008 and list eligible ones missed. Now, noting a wide divergence between error rates in CAG's sample audit and banks' own checks, the government has desired that all banks submit their auditors' certificates regarding the re-verification exercise. UCBs must submit these certificates to their regional office by October 15, 2013.

What it means for you

UCBs face tighter scrutiny on the ADWDRS 2008 implementation. The government is not satisfied with banks' self-verification quality, so an independent auditor's sign-off is now mandatory. The divergence in error rates suggests some banks may have under-reported mistakes.

Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.

What banks were required to do at the time

Who it affects

All Primary (Urban) Co-operative Banks, Auditors of UCBs, RBI Regional Offices handling UCB supervision

❓ Common questions

Regulatory timeline

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

Why is RBI asking for auditor certificates now?

Because the government found a wide divergence between the percentage of errors in CAG's sample audit and the percentage of errors banks reported in their own verification, indicating possible under-reporting.

What is the deadline for submitting the auditor certificate?

The certificate must be submitted to the concerned RBI Regional Office on or before October 15, 2013.

What happens if a UCB fails to submit the certificate on time?

The circular does not specify penalties, but RBI expects timely submission to apprise the government.

📜 Read the original circular — full text as issued by RBI
RBI/2013-14/299 UBD.BPD.(PCB)CIR No. 22 /13.05.006/2013-14 September 30, 2013 The Chief Executive Officers of All Primary (Urban) Co-operative Banks Madam/Dear Sir, Performance Audit of Agricultural Debt Waiver & Debt Relief Scheme (ADWDRS), 2008 by CAG & Re-verification Exercise by the banks Please refer to our Circular UBD.BPD. (PCB) Cir. No.40/13.05.006/2012-13 dated March 7, 2013 , in terms of which Urban Co-operative Banks (UCBs) were advised to conduct a complete verification of all the beneficiaries’ list under ADWDRS, 2008 and also draw up a list of eligible beneficiaries who were not given benefit under the scheme. The Government of India and RBI have been receiving the details of the progress made in this regard and some UCBs are yet to confirm having completed the exercise. 2. Considering that there is a wide divergence between the percentage of errors found in the sample audit carried out by CAG and the percentage of errors found by banks while conducting their own verification exercise, the Government has desired that all the banks should submit their auditors’ certificates with regard to accuracy of the re-verification exercise. 3. All UCBs are, therefore, advised to submit the auditors’ certificates regarding re-verification exercise to the Regional Office concerned. Please ensure that these certificates are submitted to the RO concerned on or before October 15, 2013 to enable us to apprise the position to the Government. Yours faithfully (P.K.Arora) General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/299 · issued 30 Sep 2013. The plain-English explanation above is BankPulse’s own independent summary.
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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=8472&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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