Branch-wise targets of each of the parameters are communicated to the Branches and the performance of every branch is monitored periodically.
Statutory Auditors are appointed by the Registrar of Co-op. Societies every year from the panel of Chartered Accountants.
Every year Co-operative department of State Government appoints statutory auditor after close of financial year.
Statutory auditors evaluate the performance of the Bank in various parameters on the basis of various audit rating of the bank. Last many years we have
obtained Audit Rating ‘A’ continuously which is recognised by all the depositors and customers while transacting business with the bank.
Bank’s Board of Directors appoints Concurrent Auditors every year from the panel of Chartered Accountants approved by the Registrar of Co-op. Societies,
Govt. of Goa. Concurrent auditors audit the Branches and H.O. of the Bank on monthly basis and ensure accuracy and efficiency at all levels.
RBI conducts periodical inspection of the bank u/s 35 of B.R. Act 1949. On the basis of
previous financial year and working, they award their inspection rating
from I to IV point. In the last RBI Inspection, RBI has given rating ‘I’ for
our bank which is ideal and highest rating. This improves and maintains the bright image the Bank.