City Union Bank Limited has informed the Exchange regarding 'RBI Approval for Appointment of Statutory Central Auditors'. for FY 2025-26
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Awaiting price reaction for this filing.
City Union Bank has received RBI approval for the re-appointment of its existing Joint Statutory Central Auditors for a second term covering FY 2025-26. The two firms are M/s P B Vijayaraghavan & Co (Chartered Accountants, FRN 004721S) and M/s M. Srinivasan & Associates (Chartered Accountants, FRN 004050S), both with extensive experience auditing major Indian banks. The appointment runs from the conclusion of the upcoming Annual General Meeting until the next AGM, and is subject to shareholder approval at the ensuing AGM. P B Vijayaraghavan & Co, founded in 1953, has audited entities like SBI, PNB, and even the Reserve Bank of India itself, while M. Srinivasan & Associates, established in 1987, counts Kotak Mahindra Bank, ICICI Bank, and Indian Overseas Bank among its clients.
This is a routine regulatory approval with no negative implications — continuity of auditors signals stability. It should have a neutral to mildly positive effect on sentiment, as the re-appointment avoids any disruption in audit processes and maintains oversight consistency.