Amendment status not verified — confirm the current text below against the official source.
(1) Audit of the State Co-operative Bank shall be conducted by Chartered Accountants from the panel approved by the National Bank. (2) The Registrar shall cause a special audit of State Co-operative Bank on the recommendation of the Reserve Bank and shall submit a copy of the report of such special audit to the Reserve Bank and National Bank within the period specified by the Reserve Bank.