DENA Bank Applications for selection of CA Firms as Concurrent Auditors Year 2016-2017

DENA Bank has invited the tender from Chartered Accountant (CA) Firms for  Concurrent Auditors for Period Starting from July 2016-June 2017. Link for online registration will be available at Dena Bank Website from 26/04/2016 to 10/05/2016 for applying for Concurrent Audit for Dena Bank Branches. For Any kind of query, Please contact at:- email : conaudit@denabank.co.in   or Call PH NO: 022-22665616 / 18 . CA’s working as Proprietorship concern are not eligible for Concurrent Audit of Bank

Disqualifications for Chartered Accountant Firm Applying for DENA Bank Concurrent Audit

Any form of canvassing/lobbying/influencing/query regarding short listing, status etc will be treated as disqualification.

Following CA firms are not eligible for on line registration.

  1. Proprietorship CA firms.
  2. CA firm having less than 5 years existence.
  3. CA firms presently engaged by the Bank as concurrent auditor.
  4. CA firms not having CISA / DISA qualified partners / employees.
  5. CA firms engaged by the Bank as Statutory Auditors
  6. CA firms debarred by ICAI / RBI or blacklisted by the Bank for refusal to conduct any assignment allotted by the Bank during last 3 (Three) years.

Time Frame for apply for Concurrent Audit of Dena Bank 

  • Due Dates Commencement of RFR 26/04/2016
  • Last date for submission of RFR 10/05/2016

LIST OF CENTER FOR CONCURRENT AUDIT

SNCENTERDISTRICTSTATE
1GUNTURGUNTURANDHRA PRADESH
2KAKINADAKAKINADAANDHRA PRADESH
3VIJAYWADAKRISHNAANDHRA PRADESH
4PATNAPATNABIHAR
5DHAMTARIDHAMTARICHATISHGADH
6BERLADURGCHATISHGADH
7BHILAIDURGCHATISHGADH
8DURGDURGCHATISHGADH
9MOHAN NAGAR DURGDURGCHATISHGADH
10KAWARDHAKAWARDHA(KABIRDHAM)CHATISHGADH
11SARAIPALLYMAHASAMUNDCHATISHGADH
12RAIPURRAIPURCHATISHGADH
13TATIBANDHRAIPURCHATISHGADH
14RAJNANDGAONRAJNANDGAONCHATISHGADH
15AMLI, SILVASSASILVASSADADRA & NAGAR HAVELI
16SILVASSASILVASSADADRA & NAGAR HAVELI
17DAMANDAMANDAMAN & DIU
18DELHIDELHIDELHI
19NCRDELHI NCRDELHI
20GOAGOAGOA
21AHMEDABADAHMEDABADGUJARAT
22BAVLAAHMEDABADGUJARAT
23KASINDRAAHMEDABADGUJARAT
24SANANDAHMEDABADGUJARAT
25AMRELIAMRELIGUJARAT
26SAVARKUNDLAAMRELIGUJARAT
27ANANDANANDGUJARAT
28PETLADANANDGUJARAT
29DHANSURAARAVALIGUJARAT
30MODASAARAVALIGUJARAT
31UBHARANARAVALIGUJARAT
32DEESABANASKANTHAGUJARAT
33PALANPURBANASKANTHAGUJARAT
34THARADBANASKANTHAGUJARAT
35ANKLESHWARBHARUCHGUJARAT
36BHARUCHBHARUCHGUJARAT
37DAHEJBHARUCHGUJARAT
38BHAVNAGARBHAVNAGARGUJARAT
39DHASABHAVNAGARGUJARAT
40ADIPURBHUJGUJARAT
41ANJARBHUJGUJARAT
42BALADIABHUJGUJARAT
43BHACHAUBHUJGUJARAT
44BHARAPARBHUJGUJARAT
45BHUJBHUJGUJARAT
46GADHSISABHUJGUJARAT
47GANDHIDAMBHUJGUJARAT
48KERABHUJGUJARAT
49MANDVIBHUJGUJARAT
50NAKHATRANABHUJGUJARAT
51RAHPARBHUJGUJARAT
52RAMPAR VEKARABHUJGUJARAT
53SAMATRABHUJGUJARAT
54BOTADBOTADGUJARAT
55BALWAGANDHINAGARGUJARAT
56CHHALAGANDHINAGARGUJARAT
57DEHGAMGANDHINAGARGUJARAT
58GANDHINAGARGANDHINAGARGUJARAT
59KALOLGANDHINAGARGUJARAT
60MANEKPURGANDHINAGARGUJARAT
61RUPALGANDHINAGARGUJARAT
62GONDALGONDALGUJARAT
63DWARKAJAMNAGARGUJARAT
64JAMNAGARJAMNAGARGUJARAT
65KALAVAD,JAMNAGARJAMNAGARGUJARAT
66JUNAGADHJUNAGADHGUJARAT
67KESHOD, JUNAGADHJUNAGADHGUJARAT
68MANAVADAR, JUNAGADHJUNAGADHGUJARAT
69VISAVADAR, JUNAGADHJUNAGADHGUJARAT
70LUNAWADAMAHISAGARGUJARAT
71KADIMEHSANAGUJARAT
72MEHSANAMEHSANAGUJARAT
73UNJHAMEHSANAGUJARAT
74VIJAPURMEHSANAGUJARAT
75VISNAGARMEHSANAGUJARAT
76HALVADMORBIGUJARAT
77MORBIMORBIGUJARAT
78TANKARA, MORBIMORBIGUJARAT
79TRAJPAR, MORBIMORBIGUJARAT
80NADIADNADIADGUJARAT
81AAT, NAVSARINAVSARIGUJARAT
82NAVSARINAVSARIGUJARAT
83PATANPATANGUJARAT
84RADHANPURPATANGUJARAT
85SIDHPURPATANGUJARAT
86KUTIYANA, PORBANDARPORBANDARGUJARAT
87PORBANDARPORBANDARGUJARAT
88RANAKANDORNA, PORBANPORBANDARGUJARAT
89GODHRARAJKOTGUJARAT
90JASDAN, RAJKOTRAJKOTGUJARAT
91RAJKOTRAJKOTGUJARAT
92AMBLIARASABARKANTHAGUJARAT
93GANTHIOLSABARKANTHAGUJARAT
94HIMMATNAGARSABARKANTHAGUJARAT
95IDARSABARKANTHAGUJARAT
96KHEDBRAHMASABARKANTHAGUJARAT
97KUKADIASABARKANTHAGUJARAT
98MUDETISABARKANTHAGUJARAT
99PRANTIJSABARKANTHAGUJARAT
100TALODSABARKANTHAGUJARAT
101BARDOLISURATGUJARAT
102SURATSURATGUJARAT
103DHRANGADHRASURENDRANAGARGUJARAT
104SURENDRANAGARSURENDRANAGARGUJARAT
105VADODARAVADODARAGUJARAT
106VALSADVALSADGUJARAT
107VAPIVALSADGUJARAT
108WAGHODIAWAGHODIAGUJARAT
109CHANDIGARHCHANDIGARHHARYANA
110HISSARHISSARHARYANA
111JINDJINDHARYANA
112KURUKSHETRAKURUKSHETRAHARYANA
113PANIPATPANIPATHARYANA
114RANCHI / BOKARORANCHIJHARKHAND
115BANGALOREBANGALOREKARNATAKA
116PATRENAHALLYCHIKBALLAPURKARNATAKA
117ERNAKULAMERNAKULAMKERALA
118TRIVENDRUMTRIVENDRUMKERALA
119BARWANIBARWANIMADHYA PRADESH
120BHOPALBHOPALMADHYA PRADESH
121HARDAHARDAMADHYA PRADESH
122INDOREINDOREMADHYA PRADESH
123JABALPURJABALPURMADHYA PRADESH
124AMRAVATIAMRAVATIMAHARASTRA
125AURANGABADAURANGABADMAHARASTRA
126BARAMATIBARAMATIMAHARASTRA
127AMALNER / DHULEDHULEMAHARASTRA
128DHULEDHULEMAHARASTRA
129SHIRPURDHULEMAHARASTRA
130CHALISGAONJALGAONMAHARASTRA
131CHOPDAJALGAONMAHARASTRA
132JALGAONJALGAONMAHARASTRA
133KOLHAPURKOLHAPURMAHARASTRA
134LATURLATURMAHARASTRA
135MUMBAIMUMBAIMAHARASTRA
136NAGPURNAGPURMAHARASTRA
137MUDKHED, NANDEDNANDEDMAHARASTRA
138NANDEDNANDEDMAHARASTRA
139PETH UMRINANDEDMAHARASTRA
140NANDURBARNANDURBARMAHARASTRA
141SHAHADANANDURBARMAHARASTRA
142DEOLANASHIKMAHARASTRA
143MALEGAONNASHIKMAHARASTRA
144NASHIKNASHIKMAHARASTRA
145SATANANASHIKMAHARASTRA
146VINCHURNASHIKMAHARASTRA
147BOISARPALGHARMAHARASTRA
148PALGHARPALGHARMAHARASTRA
149VIRARPALGHARMAHARASTRA
150PANAJIPANAJIMAHARASTRA
151SAILUPARBHANIMAHARASTRA
152PUNEPUNEMAHARASTRA
153PANVELRAIGADMAHARASTRA
154SANGLISANGLIMAHARASTRA
155SOLAPURSOLAPURMAHARASTRA
156THANETHANEMAHARASTRA
157ULHASNAGARTHANEMAHARASTRA
158VASHITHANEMAHARASTRA
159CUTTACKCUTTACKODISHA
160BHUBANESHWARKHURDHAODISHA
161AMRITSARAMRITSARPUNJAB
162LUDHIANALUDHIANAPUNJAB
163MOHALIMOHALIPUNJAB
164PATIALAPATIALAPUNJAB
165KISHANGARHAJMERRAJASTHAN
166BHILWARABHILWARARAJASTHAN
167JAIPURJAIPURRAJASTHAN
168JODHPURJODHPURRAJASTHAN
169CHENNAICHENNAITAMILNADU
170COIMBATORECOIMBATORETAMILNADU
171DINDIGULDINDIGULTAMILNADU
172ERODEERODETAMILNADU
173SALEMSALEMTAMILNADU
174TANJAVORETANJAVORETAMILNADU
175TRICHYTRICHYTAMILNADU
176HYDERABADHYDERABADTELANGANA
177DHARMARAMNIZAMABADTELANGANA
178BARABANKIBARABANKIUTTAR PRADESH
179GORAKHPURGORAKHPURUTTAR PRADESH
180KANPURKANPURUTTAR PRADESH
181LUCKNOWLUCKNOWUTTAR PRADESH
182DEHRADUNDEHRADUNUTTRAKHAND
183RUDRAPURUDDHAMSINGH NAGARUTTRAKHAND
184KOLKATAKOLKATAWEST BANGAL

Canara Bank Online Application for Empanelment of Concurrent Auditors

Canara Bank invites applications from the eligible/interested Chartered Accountant Proprietary Concerns / Firms / Companies for empanelment as Concurrent Auditors for conducting Concurrent Audit in the identified 650 branches / units for the period from 01.07.2015 to 30.06.2016. Eligible/interested Proprietary Concerns / Firms / Companies, who are agreeable to the above terms & conditions, may apply online only in the application, on or before 26.06.2015.

MANDATORY Conditions for appointment:

1. Applicant should be either a Partnership or Proprietorship firm or a Company, already in the panel of the R B I, which are circulated among the Banks for Statutory Audit of the Banks from time to time. Registration of firm with RBI and category is mandatory.

2. The auditors who are already doing the Concurrent Audit of our branches are eligible for re-empanelment. However, those Audit Firms which are conducting Concurrent Audit of our branches continuously for a period of THREE years or THREE terms are not eligible for re-empanelment. They are eligible for reempanelment after a cooling period of one year.

3. The empanelment and allocation of branches to the auditors will be purely the prerogative of the Bank. Such empanelment shall be initially for a period of one year and can be extended upto a maximum period of 3 years ( subject to clause 2 above) subject to satisfactory performance of the auditor.

4. The Concurrent Audit firm should furnish the name and qualification of the persons, who shall be conducting audit in the branch, to the Bank before commencing audit assignment and such persons will have to continue audit for all the months.

5. The Concurrent Audit firm will undertake that they will not sub contract the audit assignment.

6. The Concurrent Audit firm will not lobby directly or indirectly for considering any credit proposals of their friends/clients to the Bank.

7. The eligible auditor / firms should be qualified under provisions of Section 141 of Companies Act 2013 for appointment as auditors of the Bank. Auditors should not have been disqualified under Section 226 of the Companies Act, 1956 to accept this appointment.

8. The Concurrent Audit firm / or the partners or any of their clients should not have any credit facilities with the auditee branch for which they are applying for except credit facilities against their own deposits.

9. The firm/any partners/Directors of the firm/ Company should not have statutory audit, credit audit, valuation of fixed / current assets or any other similar assignments with any branch of Canara Bank.

10.The firm/any partners/ Directors of the firm/ Company should not have any disciplinary matters pending with ICAI/RBI and they should not have suffered any disqualification.

11.The firms should be having sufficient experience in conducting audits in Banks / our Bank. Other things being equal the Audit Firms with Proprietor/ partner with CISA /DISA qualification will be given preference.

12.The firm should have their office / infrastructure in the proposed Centre/ town / city opted for.

13.Only one branch will be allotted to a selected firm. However, the Bank has the discretion to change the allocation of the branches based on any administrative exigencies.

14.Whenever any of the Proprietor / Partner/ Director of the Audit firm/ Company is related to any of the employees/ Directors of the Bank, the relationship with such employees/ Directors should be specifically mentioned in the application.

15.The Bank has the discretion to consider or reject any of the applications based on any of the RBI / Government / Internal guidelines of the Bank.

16.Only the audit firm provisionally selected for empanelment will be communicated through e-mail. No individual intimation will be sent to the audit firm whose application is not considered for empanelment.

17.The audit firm should give their consent in writing / undertaking letter in the prescribed format agreeing to comply with and bound by the terms and conditions prescribed by the Bank.

18.The Audit Firm selected is eligible for reappointment subject to Annual Review by the Bank upto a maximum period of 3 Terms / 3 Years. The re-appointment may be to the same branch or to any other branch at the discretion of the Bank.

19.The Audit firm shall submit the reports in the prescribed format covering all the Audit areas advised from time to time which includes quarterly Risk Rating of branches. The Auditors shall certify all the reports under branch Statutory Audit system covering NPA provisioning, Insurance Coverage, P & L A/c, CRAR, Certification regarding Tax Audit and other areas to be advised from time to time.

20.The Audit Firm shall sign on the Do’s & Don’ts statement in order to have proper arms length relationship with the Branch / Department for which they will be conducting Audit.

 

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Punjab & Sind Bank Online Application Empanelment of Chartered Accountant for Concurrent Audit

Punjab & Sind Bank Online Application Empanelment of Chartered Accountant for Concurrent Audit. Last Date for Empanelment Application is by 31st May 2015. 

Eligibility Criteria For Chartered Accountant for Concurrent Audit 

  • Partnership firm with at least one FCA Partner.
  • Firm should be 3 year old
  • The firms Should be Registered with the RBI panel (UCN Number with Category)
  • Atleat one Partner or Employee should be qualified Information System Auditor (CISA/DISA) with adequate exposure of more than 1 year in systems audit.
  • Tenure of the concurrent audit would be initially for one year and can be extended for a further period of one year (overall two years)

The following criteria shall be adopted while selecting a firm for concurrent audit assignment:

i. The Chartered Accountants firm should preferably be a partnership firm with at least one FCA partner. The auditor has to attend branch/office for at least 14 days in a calendar month. The FCA would visit the branch personally at least 4 times in a month or as decided by the bank.

ii. The Sole Proprietorship Chartered Accountant firms will be discouraged, however, in case proprietor is a FCA and has employed an ex-banker of scale-II & above for conducting concurrent audit, the Bank, on merit of each such case, would consider the application. The auditor has to attend branch/office for at least 14 days in a calendar month. Further, in such cases the FCA would visit the branch personally at least 4 times in a month or as decided by the bank.

iii. The license of the proprietor / Key Person of the partnership concern has been issued for Full Time practice by The Institute of Chartered Accountants and the proprietor/ Key Person of the partnership firm is not in another Full Time Service.

iv. The firms will be selected from the RBI panel as per gradation suggested for Branch Statutory Auditor appointment.

v. The firms should prefferable have qualified Information System Auditor (CISA/DISA) with adequate exposure of more than 1 year in systems audit. IS audit would be conducted in accordance with IS Audit policy of the Bank & as per format provided by the bank, which should form an integral part of concurrent audit.

vi. The firms should have been established for at least 3 years prior to the date of application. The audit firm or any sister / associate concern / network firm should not have been debarred/de-paneled/ is not conducting the statutory audit of the Bank or any of its branches. Preference will be given to the firms where the partners themselves were ex-bankers or the firm has got tie-up with ex-bankers, of scale-II & above, with requisite experience and exposure. In case, CA firm is doing auditing work/providing any professional Services to any of the customers of the Bank, this must be disclosed by way of an undertaking/declaration given below: “ We have been allotted Concurrent Audit work of your Branch Office……………… for the period………..to ………….. . In this regard, it is declared that our firm is / has been providing Professional Services/ is an Auditor of the following customers of the Branch. This declaration must be enclosed with every monthly/quarterly report sent by you.”

vii. The firm is not in any case disqualified under provision of Sec.226 of Companies Act, 1956. The firm or any of its associate firm(s) have never been de-paneled due to poor performance.

viii. Preference should be given to those firms who have adequate exposure in conducting concurrent audit of the Bank branches of public sector / major private sector banks.

ix. The firms should have necessary office set up within same city or periphery of the allotted branch/office and adequate personnel to ensure proper deployment and timely completion of the assignments.

x. The firm has to undertake Risk Based Concurrent Audit as per checklist & audit formats of the Bank. On the implementation of Risk Based Concurrent Audit system in the bank the concurrent auditors would give rating or grade, as per policy of the bank, for the audit entity. This rating should be based on his observations about branch functioning.

xi. The firm would mandatorily sign the Do’s & Don’t statement & abide by Do’s & Don’ts issued by the Bank.

xii. The tenure of the concurrent audit would be initially for one year and can be extended for a further period of one year (overall two years), based on the performance of the auditor in the first year, provided the firm applies afresh online for the year and the firms may be considered for audit assignment in other audit units/ locations or areas. However, after having conducted concurrent audit for two years continuously, the concerned CCA will be given one year break (Cooling period), before reappointing them or their associate concern(s).

xiii. At any point of time, not more than one audit assignment would be awarded to any single firm. An audit assignment that needs to be carried out across the branches/ units at different locations would be considered as a single assignment for this purpose.

xiv. Cooling period of two years would be observed for a firm to become eligible for appointment in the same audit unit purely at the discretion of the Bank and no rights whatsoever accrue to the firm for such appointment.

xv. The audit coverage should be strictly as per the scope of audit as may be decided by the Bank from time to time.

xvi. The concurrent auditor should not undertake any other activity/ assignment on behalf of the branch or unit without obtaining the prior concurrence of the audit department in writing.

xvii. The present fee structure is as under:

Sr. No.Criteria for Remuneration (Deposits + Advances) at branch Amount of Remunerationpayable per month (lump sum)  in Rupees
1Up to 100 Crore

10000/-

2Over Rs.100 Crore & up to Rs.300 Crore

12000/-

3Over Rs.300 Crore & up to Rs.500 Crore

14000/-

4Over Rs.500 Crore & up to Rs.1000 Crore

16000/-

5Over Rs.1000 Crore

18000/-

6Service Branches

7500/-

7Treasury & Dealing Rooms (HO Foreign Exchange Dept)

12000/-

8Investment Portfolio (HO Investment Dept.)

12000/-

9H.O.I.T Department

12000/-

The above fee is exclusive of Service Tax.

xviii. No out of pocket expenses or traveling allowance / halting allowance would be paid to the concurrent audit firms for carrying out the assignment. However, the service tax, education cess etc. would be paid as applicable from time to time in addition to the basic fee. The concurrent auditors may be reimbursed actual out of pocket expenses incurred in connection with travel involved for conducting stock audits. The payment to the concurrent auditors would be subject to deduction of tax at source at appropriate rates.

xix. All the necessary certificates that need to be given as a part of the concurrent audit assignment (Bills of Entry verification, A1/A2 Forms etc.) would be given by the audit firm under its letterhead without any additional certification fee.

xx. On the implementation of Risk Based Concurrent Audit system in the bank the concurrent auditors would give rating or grade, as per policy of the bank, for the audit entity. This rating should be based on his observations about branch functioning.

xxi. The Concurrent auditor shall use the checklist and other operating guidelines provided by the Bank. Need based training / consultation would be provided to them for enhancing the quality of the audit.

xxii.The Concurrent auditor i.e. Chartered Accountant Firm will also undertake stock audit function for which they will be suitably remunerated, as per policy of the Bank.

xxiii.All matters of grave nature, as defined & communicated by the Bank from time to time, which are likely to cause loss to the bank, in respect of which immediate action is called for on the part of the Branch/Zonal/Head Office have to be informed immediately by way of Confidential/Flash Reports. Before drawing up the report, the Concurrent Auditor should have a thorough discussion with the in-charge of audit unit to ascertain all relevant points/facts on the subject to be covered in the confidential/flash report. The copies of reports need not be given to the Branch. Such reports should be sent to General Manager (Inspection) with a copy to respective Zonal Manager. The Concurrent Auditor should invariably furnish therein his views/opinion/conclusions based on his findings.

xxiv.The concurrent audit report is to be submitted to Branch, Zonal Office and respective Zonal Inspectorate, however, CCAR for quarter end is to be submitted to HO. Inspection Dept. also.

xxv.A formal wrap-up discussion with the in-charges of audit unit along with the concurrent auditors will be held once in quarter with the Zonal Manager, at Zonal Office. In case of audit of departments at Head Office, the wrap up discussion with HOD alongwith concurrent auditors would be held with General Manger (Inspection) once in a quarter at Head Office.

xxvi.The CCA should ensure that the deficiencies pointed out in the concurrent audit reports are rectified & closed within a reasonable period, as prescribed by the bank. The pending issues of the previous reports need to be mentioned as a persisting irregularity/deficiency in the subsequent reports and the audit reports i.e. monthly and quarter ended. The concurrent audit reports of quarter end are to be formally closed once in a quarter.

xxvii.The concurrent auditor is to submit the report (a softcopy through email followed by Hard copy) strictly as per the schedule prescribed. Any delay in submission should result in withholding the professional fee, which should be released after the approval from General Manager (Inspection). Repeated instance would lead to cancellation of assignment.

xxviii.The concurrent auditor to carry out assignment in a professional manner and in case of any misconduct & negligence the Bank will report the matter to ICAI / RBI. This will be in addition to the disengagement from the assignment.

xxix.In the event of colluding with customer/third part causing pecuniary loss/damage to the bank, the bank shall recommend the name of the concurrent auditor to IBA for inclusion in its caution list circulated among banks on the advice of RBI, besides termination of assignment.

xxx. In addition to above, the audit firms shall:

a) Execute undertaking of fidelity and secrecy on its letterhead in the format prescribed by the Bank.

b) Not sub-contract the audit work assigned to any outside firm or other persons even though such persons are qualified Chartered Accountants.

c) Furnish a declaration that credit facilities availed by the firm or partners or firms in which they are partners or directors including any facility availed by a third party for which the firm or its partners are guarantor/s have not turned or are existing as non- performing assets as per the prudential norms of RBI. In case the declaration is found incorrect, the assignment would get terminated besides the firm being liable for any action under ICAI / RBI guidelines.

d) Print of Online application, ICAI Constitution Certificate, ICAI Membership Certificate, DISA/CISA certificate should be submitted latest by 31st May 2015 to:

Deputy General Manager (I) Punjab & Sind Bank
H.O. Inspection Department,
06,Scindia House, Connaught Place,
New Delhi-110001
E-mail – ho.insp@psb.co.in
Phone – 011- 23716646/23716647/23718685
Fax- 23714911

Any other terms and conditions of the assignment would be decided by the Bank on a case-to-case basis.

United Bank of Indian Application by Chartered Accountant for Empanelment of Concurrent & Revenue Audit

United Bank of India has invited the Application from Chartered Accountant Firms for Empanelment of Concurrent & Revenue Audit. Last Date for Online Application is 1st June 2015.

Notice for CA firms applying for empanelment as Concurrent/Revenue Auditor

1. United Bank of India invites application from practicing Firms of Chartered Accountants in India who fulfill the eligibility criteria as mentioned here under and are willing to have their firms empanelled as Concurrent Auditor and Revenue Auditor of the Bank for conducting Concurrent Audit and Revenue Audit of branches/offices.

2. The Application should be submitted on-line in the prescribed format given in Bank’s website www.unitedbankofindia.com

3. Incomplete application will not be entertained.

4. Mere submission of application does not, in any way, constitute guarantee for empanelment / allotment of the audit job of any nature from the bank. The empanelment and allocation of the branches to the auditors will be purely the prerogative of the Bank.

5. Only those CA Firms, who would be allotted the Audit assignments, would be required to submit their testimonials along with the hardcopy of the submitted online application form duly signed with seal. No other typed or handwritten application form shall be accepted.

6. The CA firms earlier empanelled with the bank for above purpose prior to this notification are also to submit their applications as our entire previous empanelment stands cancelled.

The eligibility criteria for such empanelment of CA firms with the Bank are as under:

1. The Firm should be in RBI empanelment.

2. The firm shall have experience of Concurrent Audit/ Statutory Audit of minimum three other Banks.

3. The firm having DISA (ICAI)/ CISA (IASCA) qualified chartered accountants and/or having completed certified course on Concurrent Audit from ICAI will be preferred.

4. For North Eastern States, chartered accountants may be empanelled having no experience of Bank Audit but should be doing practice for at least 5 years.

5. For Branches located in hardship/difficult areas other than in North Eastern States, firms having experience of Concurrent Audit / Statutory Audit of at least one Bank may be empanelled.

The CA firms fulfilling the above criteria as applicable to them and narrated under para-1 to para-5 only are requested to submit their application online through our Bank’s Website www.unitedbankofindia.com latest by 01.06.2015 up to 6.00 p.m. In case of any difficulty in filing of the online application, the CA firms are requested to mail the problem to the mail ids agmins@unitedbank.co.in or cmins@unitedbank.co.in along with the screenshot of the webpage where problem is encountered.

Vijaya Bank Online Applications for Empanelment for Concurrent Audit for the year 2015-16

Vijaya Bank has issued the tender for Emapanelment/appointment of Concurrent auditor for its branches across India of CA firms. Applications for selection of CA Firms as Concurrent Auditors for the period July 2015 to June 2016 in Vijaya Bank. Link for online registration is available at Vijaya Bank Bank Website

The eligibility criteria for selection of Concurrent Auditors for Vijaya Bank for FY 2015-16 Starting from 01.07.2015 to 30.06.2016, Subject to a maximum of three years on a continuous basis.

  1. The Chartered Accountant firms/Concurrent Auditors should be on RBI panel.
  2. The Chartered Accountant firms should be partnership concerns.
  3. At -least one of the partners of the audit firm should have a qualified Information System Auditor (CISA/DISA) with necessary exposure to system audit.
  4. The firm should have necessary office set up and adequate personnel to ensure proper deployment and timely completion of the assignment.

Vijaya Bank Concurrent Audit Fees for FY 2015-16: The monthly fees payable to concurrent auditors range from Rs.9, 000/- to Rs.20, 000/-, (except FTMD-HO) depending upon the level of the business of the branch/offices. Additionally, applicable service charges are also paid by the Bank.

The list of proposed branches for which the Concurrent Auditors are required, are furnished in the Annexure-III.

No of Branches CA can Apply for : The Concurrent Auditors / the Chartered Accountant firms may mention their choice of branches (maximum of 5 branches) in their application. However, the Concurrent Auditor will be given only one branch, preferably of his choice. In case of more than one concurrent auditor competing /opting for the same branch, the decision of the Bank shall be final and it cannot be questioned or contested in any forum, legal or otherwise.

Address for Sending Concurrent Audit Application for Vijaya Bank: The applicants should also send a hard copy of online application & the undertaking letter generated in the website with the acknowledgement number, duly signed by the authorised signatory of the firm, addressed to: The Deputy General Manager, Central Inspection Department Vijaya Bank Head Office, No.41/2,M.G.Road, Bangalore-560001

DOWNLOAD LIST OF BRANCHES AVAILABLE FOR CONCURRENT AUDIT 

Download (XLS)

DOWNLOAD UNDERTAKING TO BE GIVEN BY CHARTERED ACCOUNTANT FIRM FOR CONCURRENT AUDIT

Download (PDF)

DOWNLOAD Eligibility Criteria for Selection of Concurrent Auditors

Download (PDF)

LINK FOR ONLINE APPLICATION FOR VIJAYA BANK CONCURRENT AUDIT FOR FY 2015-15

http://www.vijayabank.com:83/AuditorEmpanelment/Application/Application.aspx

Application for Empanelment of Concurrent Auditor for DENA BANK BRANCHES

Dena Bank has issued the tender for Emapanelment/appointment of Concurrent auditor for its branches across India of CA firms. Applications for selection of CA Firms as Concurrent Auditors for the period July 2015 to June 2016 in Dena Bank. Link for online registration will be available at Dena Bank Website from 25/04/2015 at 10.00 AM to 10/05/2015.

Following Chartered Accountants are not eligible : Any form of canvassing / lobbying / influencing / query regarding short listing, status etc will be treated as disqualification. Following CA firms are not eligible for on line registration.

  1. Proprietorship CA firms.
  2. CA firm having less than 5 years existence.
  3. CA firms presently engaged by the Bank as concurrent auditor.
  4. CA firms not having CISA / DISA qualified partners / employees.
  5. CA firms engaged by the Bank as Statutory Auditors
  6. CA firms debarred by ICAI / RBI or blacklisted by the Bank for refusal to conduct any assignment allotted by the Bank during last 3 (Three) years.

Download List of Branches for Dena Bank Concurrent Audit 

Download (PDF)

Download (PDF)

Different Investment option with Post Office for Small Savings & Tax Benefit Like NSC, PPF, RD, Time Deposit

Indian Post is under the control of central government and comes under the Ministry of Communications and Information Technology. The Postal Service Board, the apex management body of the Department, comprises the Chairman and six Members. India has the largest Postal Network in the world with over 1, 55,015 Post Offices (as on 31.03.2009) of which 1, 39,144 (89.76%) are in the rural areas.  There are different investment products through which Indian Post raises the money for Indian Government and rate of interest are decided by Ministry of Finance, Department of Economic Affairs. Post Office Savings Account, 5-Year Post Office Recurring Deposit Account, Post Office Time Deposit Account, Post Office Monthly Income Account Scheme, Senior Citizen Savings Scheme, 15 year Public Provident Fund Account, Kisan Vikas Patra (Discontinued from 01.12.2011) , National Savings Certificates (NSC), 5 Years National Savings Certificate (VIII Issue), 10 Years National Savings Certificate (IX Issue).

Interest rate Comparison Chart for Different Investment Options by Post Office for Last 3 Years

SchemeRate of interest
w.e.f.01.04.2012
Rate of interest
w.e.f.01.04.2013
Rate of Interest
w.e.f. 01.04.2014
 Savings Deposit4%4%4%
1 Year Time Deposit8.20%8.20%8.40%
2 Year Time Deposit8.30%8.20%8.40%
3 Year Time Deposit8.40%8.30%8.40%
5 Year Time Deposit8.50%8.40%8.50%
5 Year Recurring Deposit8.40%8.30%8.70%
5 Year SCSS9.30%9.20%9.20%
5 Year MIS8.50%8.40%8.40%
5 Year NSC8.60%8.50%8.50%
10 Year NSC8.90%8.80%8.80%
PPF8.80%8.70%8.70%

 Post Office Savings Account

  • Interest rate:  4.0% per annum on individual/ joint accounts.
  • Account Opening: Minimum Rs.20/- for opening.
  • Other Features: Minimum balance Rs 50/-, Interest earned is Tax Free up to Rs.10,000/- per year,  Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account.

 5-Year Post Office Recurring Deposit Account

  • Interest rate:  8.4% per annum (quarterly compounded) with effect from 01.04.2014
  • Account Opening: Minimum INR 10/- for opening or any amount in multiples of Rs.5/-. No maximum limit
  • Other Features: Account can be transferred from one post office to another, Single account can be converted into Joint and Vice Versa.

Post Office Time Deposit Account 

  • Interest rate:  1yr.A/c – 8.40%, 2yr.A/c-8.40%, 3yr.A/c-8.40%, 5yr.A/c-8.50% with effect from 01.04.2014
  • Account Opening: Minimum INR 200/- for opening or any amount in multiples of Rs.5/-. No maximum limit
  • Income Tax Deduction 80C: The investment under 5 Years TD qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.
  • Other Features: Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account, Single account can be converted into Joint and Vice Versa

Post Office Monthly Income Account Scheme 

  • Interest rate:  8.4% per annum (quarterly compounded) with effect from 01.04.2014
  • Account Opening: In multiples of INR 1500/-. Maximum investment limit is Rs. 4.5 lakhs in single account and INR 9 lakhs in joint account.
  • Other Features: Account can be transferred from one post office to another, Single account can be converted into Joint and Vice Versa. Can be prematurely encashed after one year but before 3 years at the discount of 2% of the deposit and after 3 years at the discount of 1% of the deposit. (Discount means deduction from the deposit.)

Senior Citizen Savings Scheme

  • Interest rate: 9.20% per annum, payable from the date of deposit of 31st March/30th Sept/31st December in the first instance & thereafter, interest shall be payable on 31st March, 30th June, 30th Sept and 31st Decembe with effect from 01.04.2014
  • Account Opening: There shall be only one deposit in the account in multiple of INR.1000/- maximum not exceeding INR 15 lakh.
  • Income Tax Deduction 80C: The investment qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.
  • Other Features: An individual of the Age of 60 years or more may open the account. Maturity period is 5 years. Account can be opened by cash for the amount below INR 1 lakh and for INR 1 Lakh and above by cheque only.

15 year Public Provident Fund Account

  • Interest rate:  8.70% per annum (quarterly compounded) with effect from 01.04.2014
  • Account Opening: open account with INR 5/- but has to deposit minimum of INR 500/- in a financial yearMinimum INR. 500/- Maximum INR. 1,00,000/- in a financial year. Deposits can be made in lump-sum or in 12 installments.
  • Income Tax Deduction 80C: The investment qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007. Also Interest is completely tax-free.
  • Other Features: Maturity value can be retained without extension and without further deposits also.Premature closure is not allowed before 15 years. Loan facility available from 3rd financial year  and no attachment under court decree order

Kisan Vikas Patra (Discontinued from 01.12.2011)

National Savings Certificates (NSC)

5 Years National Savings Certificate (VIII Issue)

  • Interest rate:  8.5% compounded six monthly but payable at maturity. INR. 100/- grows to INR 151.62 after 5 years with effect from 01.04.2014
  • Account Opening: Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-
  • Income Tax Deduction 80C: The investment qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007. Also Interest is completely tax-free.
  • Other Features: The interest accruing annually but deemed to be reinvested under Section 80C of IT Act.

10 Years National Savings Certificate (IX Issue)

  • Interest rate:  8.80% compounded six monthly but payable at maturity. INR 100/- grows to INR 236.60 after 10 years with effect from 01.04.2014
  • Account Opening: Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-
  • Income Tax Deduction 80C: The investment qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007. Also Interest is completely tax-free.
  • Other Features: The interest accruing annually but deemed to be reinvested under Section 80C of IT Act.

Reverse Mortgage (Amendment) Scheme, 2013: Disbursement & Period of Loan

Central Government has amended the Reverse Mortgage Scheme, 2008 by Reverse Mortgage (Amendment) Scheme, 2013 by NOTIFICATION NO.79/2013 F.No.149/54/2013-TPLDated 07-10-2013. Through this amendment Government has made the changes in Disbursement of loan, Period of reverse mortgage loan and define terms like annuity sourcing institution

NOTIFICATION NO.79/2013 [F.No.149/54/2013-TPLDated 07-10-2013

In exercise of the powers conferred by clause (XVI) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme to amend the Reverse Mortgage Scheme, 2008, namely:—

1. (1) This Scheme may be called the Reverse Mortgage (Amendment) Scheme, 2013.

    (2) It shall come into force on the date of its publication in the Official Gazette.

2. In the Reverse Mortgage Scheme, 2008, –

(1) in paragraph (2), after clause (a), the following clause shall be inserted, namely:-

“(ab) “annuity sourcing institution” means Life Insurance Corporation of India or any other insurer registered with the Insurance Regulatory and Development Authority established under sub-section

(1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);” ;

(2) in paragraph (3), in sub-paragraph (2), for the word, brackets and number “sub-rule (1)”, the word, brackets and number “sub-paragraph (1)” shall be substituted;

(3) for paragraph (5), the following paragraph shall be substituted, namely:-

(4) “5. Disbursement of loan. – The approved lending institution may disburse the loan, –

(a) to the reverse mortgagor by any one or more of the following modes, namely:-

(i) periodic payments to be decided mutually between the approved lending institution and the reverse mortgagor;

(ii) lump-sum payment in one or more tranches, to the extent that the aggregate of the amount disbursed as lump sum payments does not exceed fifty per cent of the total loan amount sanctioned; or

(b) in part or in full, to the annuity sourcing institution for the purposes of periodic payments by way of annuity to the reverse mortgagor.”;

(4) for paragraph (6), the following paragraph shall be substituted, namely:-

“6. Period of reverse mortgage loan.- The loan under reverse mortgage shall not be granted for a period exceeding,-

(i) twenty years from the date of signing the agreement by the reverse mortgagor and the approved lending institution, where the loan is disbursed in accordance with clause (a) of Paragraph 5;

(ii) the residual life time of the borrower, where the loan is disbursed in accordance with clause (b) of Paragraph 5.”.

List of Authorised Banks for E-Payment of Income Tax: Banks for Online Tax Payment

List of Banks authorized by Income Tax Department for collecting E-Payment of Income Tax .i.e Online Collection of Advance Income tax, Tax Deducted Source (TDS) and Self Assessment Tax under Income Tax Act through NSDL. Total 30 Indian Banks have been empanelled for online Tax Collection  for Payment of TDS on Sale of Property (Form 26QB), Tax Deducted at Source / Tax Collected at Source (TDS/TCS) from corporates or non-corporates TDS/TCS (CHALLAN NO./ITNS 281), payment of Income tax & Corporation Tax (CHALLAN NO./ITNS 280), payment of Security Transaction Tax, Hotel Receipts Tax, Estate Duty, Interest Tax, Wealth Tax, Expenditure Tax /Other direct taxes & Gift tax (CHALLAN NO./ITNS 282).

Following is the List of Banks for Online Tax Collection (Income Tax, Service Tax, Custom and Excise)

  1. Allahabad Bank
  2. Andhra Bank
  3. Axis Bank
  4. Bank of Baroda
  5. Bank of India
  6. Bank of Maharashtra
  7. Canara Bank
  8. Central Bank of India
  9. Corporation Bank
  10. Dena bank
  11. HDFC Bank
  12. ICICI Bank
  13. IDBI Bank Limited
  14. Indian Bank
  15. Indian Overseas Bank
  16. Jammu and Kashmir Bank
  17. Oriental Bank of Commerce
  18. Punjab National Bank
  19. State Bank of Bikaner & Jaipur
  20. State Bank of Hyderabad
  21. State Bank of India
  22. State Bank of Indore
  23. State Bank of Mysore
  24. State Bank of Patiala
  25. State Bank of Travancore
  26. Syndicate Bank
  27. UCO BANK
  28. Union Bank of India
  29. United Bank of India
  30. Vijaya Bank

South Indian Bank NRI Account Interest Rates

South Indian Bank NRI Account Interest Rates

One of the earliest banks in South India,  “South Indian Bank” came into being during the Swadeshi movement. The establishment of the bank was the fulfillment of the dreams of a group of enterprising men who joined together at Thrissur, a major town (now known as the Cultural Capital of Kerala), in the erstwhile State of Cochin to provide for the people a safe, efficient and service oriented repository of savings of the community on one hand and to free the business community from the clutches of greedy money lenders on the other by providing need based credit at reasonable rates of interest.

Translating the vision of the founding fathers as its corporate mission, the bank has during its long sojourn been able to project itself as a vibrant, fast growing, service oriented and trend setting financial intermediary.

 Vision 
To emerge as the most preferred bank in the country in terms of brand, values, principles with core competence in fostering customer aspirations, to build high quality assets leveraging on the strong and vibrant technology platform in pursuit of excellence and customer delight and to become a major contributor to the stable economic growth of the nation.

Mission 
To provide a secure, agile, dynamic and conducive banking environment to customers with commitment to values and unshaken confidence, deploying the best technology, standards, processes and procedures where customer convenience is of significant importance and to increase the stakeholders’ value.

DOMESTIC DEPOSITS (Also applicable for NRO Accounts)
Interest rate on Domestic Deposits w.e.f August 01st, 2013

Period

Single Deposit less than Rs.100.00 lacs 

         General

Senior Citizens*

7 days to 14 days

15 days to 45 days

4.00%

4.50%

46 days to 90 days

4.50%

5.00%

91 days to 180 days

7.00%

7.50%

181 days to 299 days

8.50%

9.00%

300 days

8.75%

9.25%

301 days to less than 1 year

8.50%

9.00%

1 year to less than 2 years

9.00%

9.50%

SIB 85 (2 years)

9.25%

9.75%

Above 2 years to less than 3 years

9.00%

9.50%

3 years to upto & incl. 10 years

8.75%

9.25%

Tax Gain

8.75%

9.25%

Rates for single deposit of Rs.100 lacs & above and Premature closure penalty thereon to be obtained from               Head Office – (Treasury Dept.) on a daily basis.

* Special rates for Senior Citizens, applicable only to Residents individually or jointly with another resident citizen.Penalty is applicable for premature closure of deposits for withdrawal as well as for reinvestment of Term Deposits including Recurring Deposits and Daily Savings Deposits at the rate of 0.50% for deposit amounts below Rs.15 lakhs and 1% for deposit amounts of Rs.15 lakhs and above. The effective rate will be the net of applicable rate for the period of deposit remained with bank (less the penal rate) or the net of original contracted rate (less penal rate) whichever is less.
DOMESTIC SAVINGS ACCOUNT(Also Applicable for NRO Accounts)

Period

Rate

Savings Bank A/c (w.e.f 03.05.2011)

4.00% per annum

NRE DEPOSITS
Interest rate on NRE Deposits with effect from 26th August 2013*

Period

Single Deposit less than Rs.100 lacs

1 year to less than 2 years

9.00% p.a

SIB 85 (2 years)

9.25% p.a

Above 2 years to less than 3 years

9.00% p.a

SIB NRE Max (3 years to 5 years)

9.50% p.a

Above 5 years to upto and incl.10 years

9.00% p.a

  Rates for single deposit of Rs.100 lacs & above and Premature closure penalty thereon to be obtained from             Head Office – (Treasury Dept.) on a daily basis.

 * The revised rates will apply only to fresh deposits and on renewal of maturing deposits.

No interest will be paid if closed within one year.

No additional interest will be paid for Senior Citizens under NRE Term deposit schemes.

FCNR(B) DEPOSITS
Interest rate per annum on FCNR(B) Deposits with effect from 15th August 2013

Period

USD

GBP

EURO

AUD

CHF

1 year to less than 2 years

2.67%

2.86%

2.47%

4.48%

2.24%

2 years to less than 3 years

2.48%

2.71%

2.56%

4.65%

2.20%

3 years to less than 4 years

4.78%

4.87%

4.74%

6.89%

4.34%

4 years to less than 5 years

5.17%

5.11%

4.96%

7.19%

4.52%

5 years

5.56%

5.41%

5.20%

7.42%

4.73%

* There is no pre closure penalty for FCNR(B) deposits

RFC ACCOUNT
Interest rate per annum on RFC Deposits with effect from 15th August 2013

Period

USD

GBP

EURO

1 year to less than 2 years

2.67%

2.86%

2.47%

2 years to less than 3 years

2.48%

2.71%

2.56%

3 years

4.78%

4.87%

4.74%

RFC SAVINGS ACCOUNT

USD

GBP

EURO

Savings Bank A/c

 0.50%

2.00%

1.00%

Effective Annualized Rate of Return (Indicative only)

In keeping with Reserve Bank of India guidelines to provide information on effective annualized rate of return on deposits of various maturities, the annualized rate of return for the Kalpakanidhi* (KND – Quarterly Compounding) deposits are indicated.      

Annualized Rate of Return at minimum quarterly multiple of the maturity bucket for Kalpakanidhi* (KND – Quarterly Compounding) Domestic Deposits (Also Applicable for NRO KND Deposits)

(For Single deposits of less than Rs.100 lakhs)

General

Senior Citizen

 Period

ROI

Annualized Yield

ROI

Annualized Yield

7 days to 14 days

 –

15 days to 45 days

4.00%

4.00%

( – )

4.50%

4.50%

( – )

46 days to 90 days

4.50%

4.50%

( – )

5.00%

5.00%

( – )

91 days to 180 days

7.00%

7.00%

( – )

7.50%

7.50%

( – )

181 days to less than 1 year

8.50%

8.68%

(3 Q)

9.00%

9.20%

(3 Q)

1 year to less than 3 years

9.00%

9.31%

(4 Q)

9.50%

9.84%

(4 Q)

SIB 85 (2 years)

9.25%

10.03%

(8 Q)

9.75%

10.62%

(8 Q)

3 years to upto and incl. 10 years

8.75%

9.88%

(12 Q)

9.25%

10.52%

(12 Q)

(The period (in quarters) corresponding to which the annualized yield is determined are mentioned in the brackets)

Annualized Rate of Return at minimum quarterly multiple of the maturity bucket for NRE KND* Deposits

Period

ROI

Annualized Yield

1 year to less than 3 years

 9.00%

   9.31%

(4 Q)

SIB 85 (2 years)

9.25%

10.03%

(8 Q)

SIB NRE Max(3 years to 5 years)

9.50%

10.84%

(12 Q)

Above 5 years up to and incl.10 years

9.00%

11.21%

(60 Q)

* KND Deposits shall be opened with maturity of quarterly multiples only.