Declaration of Indebtedness :
1.04 The RBI has advised that the banks, before appointing their statutory central/circle/ branch auditors, should obtain a declaration of indebtedness in proforma ‘A’ given in Annexure to the Notification No. RBI/2004/161 Ref DBS.ARS No B.C. 09 /08.91.001/2003-04 dated April 20, 2004. In addition to this, the RBI has further advised the banks that no credit facility (including guaranteeing any facilities availed of by third party) should be availed of by the proprietor/any of the partners of the audit firm/members of his/their families or by firm/ company in which he/they are partners/directors.