The Reserve Bank of India (RBI) on May 22, 2024, issued the notification regarding the Withdrawal of Circulars.
The following has been stated namely: -
• An internal review of regulations was carried out to remove obsolete/outdated/superfluous instructions and to rationalize and simplify existing instructions.
• The circulars listed in the Annex are withdrawn with effect from May 22, 2024
• The following circulars have been withdrawn namely: -
o DOS.No.BC.2/ 16.13.100/95 – Meeting of Compliance Officers
o DOS.No.BC.24/ 08.91.021/96 – Internal Organisation and Control System
o DOS.No.CO.PP.BC.2/ 11.01.016/97-98 – Compliance Officers of Banks
o DBS.No.PP.BC.17/ 11.01.005/1999-2000 – Checklist for Evaluation of Internal Inspection/ Audit
o DBS.CO.PP.BC.36/ 11.01.005/1999-2000 – Compliance Officers of banks
o UBD.No.POT.3/09.06-00/2000-2001 – Overseeing the internal audit function in Banks - Setting up of Audit Committee
o DBS.CO.PP.BC.17/ 11.01.005 /2004-05 – Implementation of Risk-based internal audit (RBIA) in banks
o DBS.PP.BC1/11/ 01.005/2006-07 – Compliance function in banks
[Notification No. RBI/2024-25/37]
