{"what_this_is":"The machine-readable twin of the BankPulse page for one RBI rulebook. Same points, same dates, same paragraph references as the page a person reads. RBI's own wording is not reproduced here: each point names the RBI paragraph, the character offset into the text BankPulse read and the sha256 of that text, so the claim can be checked against RBI's own document.","schema_version":1,"release_id":"d653cdb0a5","generated_at":"2026-09-15T00:33:59.117975+00:00","id":"md13608","title":"Reserve Bank of India (Local Area Banks – Concurrent Audit) Directions, 2026","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13608","status":"In force","importance":{"code":"MR","label":"MUST READ","weight":"Must read","why":"Binding RBI Directions naming this institution class in the title","layer":"bankpulse_inference"},"applies_to":{"shown":"Local area banks","class_code":"LAB","from":"the document's own title","layer":"bankpulse_inference"},"dates":{"prid":"md13608","mode":"four_dates_v1","published":{"label":"Published","value":"Jul 31, 2026","stated":true,"why":"The day RBI put this document out."},"effective":{"label":"Starts to apply","value":"","stated":false,"why":"Not stated separately in this document. Read the rule itself before you assume a start date."},"transition":{"label":"Time to get ready","value":"","stated":false,"why":"Cannot be worked out until the day it starts to apply is known."},"deadline":{"label":"Last date to act","value":"","stated":false,"why":"No date to act by was found in this document. Other dates may sit inside single paragraphs."},"sources":{"published":"doc_date in data/highlights/md13608.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13608","document_date":"Jul 31, 2026","read_by_bankpulse":"2026-08-21 16:25:14 UTC","text_sha256":"34f56d9a09697ff5bc44458dd5a423fb3504cddb10fb31f224cd5e779dfe0dc9","word_count":1713,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":34,"points_naming_an_rbi_paragraph":34,"points_stored":34,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md13608-0e747d72","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"In force at once","plain_english":"These Directions came into effect immediately upon issuance.","rbi_paragraph":"Para 2","rbi_char_offset":3372,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p1","layer":"bankpulse"},{"n":2,"claim":"md13608-1c401897","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"These Directions apply to local area banks.","rbi_paragraph":"Para 3","rbi_char_offset":3459,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p2","layer":"bankpulse"},{"n":1,"claim":"md13608-d4a4f4e7","page_group":"Chapter II. Governance and Oversight","stored_section":"THE CORE IDEA","heading":"The committee approves scope","plain_english":"The board's audit committee must approve the detailed scope of the concurrent audit.","rbi_paragraph":"Para 6","rbi_char_offset":4309,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p3","layer":"bankpulse"},{"n":2,"claim":"md13608-afc22c21","page_group":"Chapter II. Governance and Oversight","stored_section":"WHO SHOULD ACT","heading":"A yearly effectiveness review","plain_english":"Once a year the committee must review how well the audit system and the auditors work.","rbi_paragraph":"Para 8","rbi_char_offset":4611,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p4","layer":"bankpulse"},{"n":3,"claim":"md13608-c0adb73e","page_group":"Chapter II. Governance and Oversight","stored_section":"WHO SHOULD ACT","heading":"Tenure and pay upstairs","plain_english":"The audit committee fixes external auditors' maximum tenure and their pay.","rbi_paragraph":"Para 7","rbi_char_offset":4447,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p5","layer":"bankpulse"},{"n":1,"claim":"md13608-cacaa08c","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"THE CORE IDEA","heading":"Risk areas never skipped","plain_english":"Areas the bank itself marks as risk sensitive must be covered.","rbi_paragraph":"Para 10","rbi_char_offset":5125,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p6","layer":"bankpulse"},{"n":2,"claim":"md13608-6949ee31","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Five years with the bank","plain_english":"An outside auditor may serve the bank at most five years in a row.","rbi_paragraph":"Para 18(1)","rbi_char_offset":8966,"weight":"MUST KNOW","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p7","layer":"bankpulse"},{"n":3,"claim":"md13608-e1476bc4","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Three years per branch","plain_english":"No auditor stays with one branch or unit beyond three years.","rbi_paragraph":"Para 18(2)","rbi_char_offset":9106,"weight":"MUST KNOW","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A concurrent auditor may stay with one branch for three years, and no longer. An auditor who starts in April 2024 moves on by April 2027. A retired staff member engaged as a concurrent auditor may not be over 70.","anchor":"https://bankpulse.ai/rule/md13608#p8","layer":"bankpulse"},{"n":4,"claim":"md13608-6101654b","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Random tests, large samples","plain_english":"Coverage must include random testing of a large enough sample of transactions.","rbi_paragraph":"Para 10","rbi_char_offset":5353,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p9","layer":"bankpulse"},{"n":5,"claim":"md13608-f4d2fff2","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHO SHOULD ACT","heading":"Own staff must qualify","plain_english":"In house auditors must be experienced, trained, senior and independent of the unit they audit.","rbi_paragraph":"Para 15","rbi_char_offset":8009,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p10","layer":"bankpulse"},{"n":6,"claim":"md13608-0d3efadf","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHO SHOULD ACT","heading":"Accountability for own staff","plain_english":"A policy must fix accountability when the bank's own or retired staff slip seriously.","rbi_paragraph":"Para 17","rbi_char_offset":8739,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p11","layer":"bankpulse"},{"n":7,"claim":"md13608-dc6be689","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Pay matches the work","plain_english":"Pay must match the audit's scope, the skills, the staff and the time it needs.","rbi_paragraph":"Para 19","rbi_char_offset":9305,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p12","layer":"bankpulse"},{"n":8,"claim":"md13608-d4677881","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Follow-up is priority","plain_english":"Head office must treat follow-up and rectification of audit findings as high priority.","rbi_paragraph":"Para 25","rbi_char_offset":10471,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p13","layer":"bankpulse"},{"n":9,"claim":"md13608-a303a019","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHO SHOULD ACT","heading":"Audit head sets work","plain_english":"The internal audit head decides what work goes to the auditors, with the committee's prior approval.","rbi_paragraph":"Para 9","rbi_char_offset":4950,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p14","layer":"bankpulse"},{"n":10,"claim":"md13608-5272629f","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Cash counted physically","plain_english":"Cash work is covered, including physically counting the cash.","rbi_paragraph":"Para 11(1)","rbi_char_offset":5561,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p15","layer":"bankpulse"},{"n":11,"claim":"md13608-83ec302a","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Loans checked to end use","plain_english":"Loan work is covered end to end: securities, sanction powers, end use of funds and excess drawings.","rbi_paragraph":"Para 11(2)","rbi_char_offset":5624,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p16","layer":"bankpulse"},{"n":12,"claim":"md13608-0f4b85ea","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"KYC checks in scope","plain_english":"The audit covers KYC and anti money laundering work, including suspicious transaction reporting.","rbi_paragraph":"Para 11(3)","rbi_char_offset":5884,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p17","layer":"bankpulse"},{"n":13,"claim":"md13608-137bbd8e","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"SWIFT messages watched","plain_english":"Remittances and bills are covered, including SWIFT messages and overdue purchased bills.","rbi_paragraph":"Para 11(4)","rbi_char_offset":6297,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":["working-capital"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p18","layer":"bankpulse"},{"n":14,"claim":"md13608-72a9aadf","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Housekeeping and ledgers","plain_english":"Housekeeping is covered: account reconciliation, control ledgers and internal account openings.","rbi_paragraph":"Para 11(5)","rbi_char_offset":6475,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":["foreign-exchange"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p19","layer":"bankpulse"},{"n":15,"claim":"md13608-0395c555","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Treasury and foreign exchange","plain_english":"Treasury, non fund based business and foreign exchange all fall inside the audit.","rbi_paragraph":"Para 11(6)","rbi_char_offset":6641,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":["foreign-exchange"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p20","layer":"bankpulse"},{"n":16,"claim":"md13608-a95295f1","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Cards and mis-selling","plain_english":"Card business, employee conduct and product mis-selling are audited.","rbi_paragraph":"Para 11(11)","rbi_char_offset":6806,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":["credit-card"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p21","layer":"bankpulse"},{"n":17,"claim":"md13608-0a36a6d7","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Processing centres covered","plain_english":"Every centralised processing centre, including those originating business, is covered.","rbi_paragraph":"Para 12","rbi_char_offset":7041,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p22","layer":"bankpulse"},{"n":18,"claim":"md13608-e61fa3fd","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHO SHOULD ACT","heading":"A board approved policy","plain_english":"A board approved policy says whether the bank's own staff or outside auditors do the work.","rbi_paragraph":"Para 13","rbi_char_offset":7253,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p23","layer":"bankpulse"},{"n":19,"claim":"md13608-1669d4c4","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHO SHOULD ACT","heading":"Audit head picks auditors","plain_english":"When the work is outsourced, the internal audit head helps select the auditors and reviews their quality.","rbi_paragraph":"Para 14","rbi_char_offset":7474,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p24","layer":"bankpulse"},{"n":20,"claim":"md13608-01e66156","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"No board partner conflict","plain_english":"If a firm's partner sits on the bank's board, no partner of that firm may be its concurrent auditor.","rbi_paragraph":"Para 14","rbi_char_offset":7751,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p25","layer":"bankpulse"},{"n":21,"claim":"md13608-ab8ce44d","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"A hearing before action","plain_english":"An external firm accused of serious lapses gets a hearing before any adverse action.","rbi_paragraph":"Para 16","rbi_char_offset":8439,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p26","layer":"bankpulse"},{"n":22,"claim":"md13608-1ebd666f","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Proven lapses reported up","plain_english":"A proven lapse means cancellation and a report to the committee, RBI and the accountants' institute.","rbi_paragraph":"Para 16","rbi_char_offset":8511,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p27","layer":"bankpulse"},{"n":23,"claim":"md13608-c7a61086","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Retired staff up to seventy","plain_english":"Retired staff may work as concurrent auditors only up to age 70.","rbi_paragraph":"Para 18(3)","rbi_char_offset":9196,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p28","layer":"bankpulse"},{"n":24,"claim":"md13608-bde88583","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"A structured reporting line","plain_english":"Findings arrive in a structured format the bank prescribes, under a committee approved reporting system.","rbi_paragraph":"Para 21","rbi_char_offset":9619,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p29","layer":"bankpulse"},{"n":25,"claim":"md13608-d1a4d0c4","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Small fixes on the spot","plain_english":"Small irregularities are fixed on the spot; major ones go straight to head office.","rbi_paragraph":"Para 22","rbi_char_offset":9724,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p30","layer":"bankpulse"},{"n":26,"claim":"md13608-e0f0d0f6","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"A quarterly review upstairs","plain_english":"Every quarter the committee sees a review of what the audits found, zone by zone.","rbi_paragraph":"Para 23","rbi_char_offset":10013,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p31","layer":"bankpulse"},{"n":27,"claim":"md13608-4085b404","page_group":"Chapter III. Guidelines for Concurrent Audit","stored_section":"WHAT CHANGES","heading":"Fraud goes up at once","plain_english":"Detected fraud is reported at once to internal audit and the chief vigilance officer.","rbi_paragraph":"Para 24","rbi_char_offset":10233,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p32","layer":"bankpulse"},{"n":1,"claim":"md13608-5c90cb1c","page_group":"Chapter IV. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old guidance repealed","plain_english":"The earlier concurrent audit circulars for this kind of bank stand repealed.","rbi_paragraph":"Para 26","rbi_char_offset":10829,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p33","layer":"bankpulse"},{"n":2,"claim":"md13608-1079c38d","page_group":"Chapter IV. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old actions stay governed","plain_english":"Action already taken under the old rules stays governed by them.","rbi_paragraph":"Para 27","rbi_char_offset":11222,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13608#p34","layer":"bankpulse"}],"actions":[],"amendments":[],"layers":{"rbi_source":"Facts taken from RBI's own document.","bankpulse":"BankPulse's plain-English summary of RBI's document.","bankpulse_inference":"BankPulse's own inference, not stated by RBI."},"rbi_wording_not_included":"By design. BankPulse never republishes RBI's exact sentences. Use rbi_paragraph with rbi_source.url to read RBI's own words.","terms":"BankPulse's plain-English summaries are BankPulse's own work. The underlying regulation is the Reserve Bank of India's. Always check the RBI document named in rbi_source before acting."}