NABARD workshop for cooperative bank auditors of Punjab

Chandigarh, June 1 (UNI) National Bank for Agriculture and Rural Development (NABARD) today organised its first one-day workshop on prudential norms visa vis income recognition, asset classification and provisioning for cooperative bank auditors of Punjab.

The workshop was inaugurated by Mr S R Aluru, Chief General Manager, NABARD, Chandigarh.

Speaking on the occasion, Mr Aluru said that cooperative banks in Punjab are in better health than many other states but there is scope for vast improvement. Auditors can definitely contribute in this endeavor.

He further mentioned that primary justification for audit of banks is to limit the risk and loss to depositors and thus sustain public confidence. Banks are exposed to different types of risks like liquidity risk, interest risk, market risk, operational risk and management risk, but the credit risk stands out as most dreaded one,he added.

Mr Aluru said that non performing asset level was a key indicator of any bank's health, stability, viability and soundness. Banking and business environment is fast changing because of liberalization and globalisation of our economy,he added.

Mr Mohan Kalsi, Joint Chief Auditor, Punjab in his address lauded NABARD's initiative and assured that quality of audit would be improved further.

UNI HS MP RS1807