AUDIT OF PUBLIC MONEY IS SOCIAL RESPONSIBILITY AS SUCH INVOLVE UTMOST SINCERITY AND PERSONAL ACCOUNTABILITY.AUDITOR HAS TO BE APPOINTED BY REGULATOR (RBI) WHERE PUBLIC MONEY IS IN QUESTION. INDIVIDUAL CAS TO BE APPOINTED BY AUTOMATED ALGORITHMS FOR THE PURPOSE TO ENSURE NO BIASNESS AND FIXATION OF RESPONSIBILITY. APPOINTMENT OF AUDITOR BY AUDITEE(BANK) IS AGAINST THE DOCTRINE ENSHRINED IN CONSTITUTION OF INDIA.THE ONLY WEAPON TO KILL CORRUPTION IS SYSTEMIC CHANGE(INDEPENDENCE OF AUDITOR SUPREME)

The cost of an banks transaction is highest when a person visits the branch, reduces when the same transaction is done through ATM and reduced further when net banking is used. However the banks are not promoting net banking instead charging users for net banking. Net banking will only ensure people do transactions online and also reduce the menace of paper currency moving into the system. On similar grounds a person paying by credit/debit card has at times to pay 1-2% extra as against cash.

CA profession is considered as supreme audit profession known for integrity, objectivity and independence.The learned profession CA with apex body ICAI produces best in class talent after professed study over the years.Brilliant brains nurtured by ICAI after burning midnight oils with an objective to serve largest democracy.Only independent audit can kill corruption in all spheres and lead India to progress.All banks whether public or private under RBI supervision be audited Branch wise.

A rating system (5 star) for feedback by customers and other entities dealing with banks, for each of the transaction. Give incentives to the best customer service banking institution.Yearly, give a Grading Certificate by authority (A-Excellent, B-Very good, C-Good, D-Average, E-Poor, F-Unacceptable). Make it mandatory for the instituitions to advertise/place the certification at prominent places in entrances/cabins/Advertisements. Can also be implemeted for all Govt offices as well.

For one of the cases in USA, the federal Govt found some fraud of transaction with HSBC this year and USA has banned that particular branch from operation and put on those found on fraud on trails and suspension from money transactions. May be we also need to look into such actions from out government.

Centralized processing is required for Public Banks,so that customer can finish most of the work in any of the branch in any city. For a Loan (atleast home loan) taken from SBI, Person has to go to two places depending on the work : one is SBI bank branch and another is RACPC office, not just initially, even for overall tenure of the loan. After reaching to bank branch, customer will come to know that he has to go to RACPC for this work,even for small things like giving check/ECS for revised EMI

The Number of staff offering services in PSB are less in comparision to the Private sector banks.As far as i know, SBI could target middle class people. If government can open new branches like SBI Yuva which is operational on Saturdays and Sundays, IT people would choose SBI Yuva as their salary accounts which could improve the performance of SBI. SBI bank offers some good Internet banking facilities where as other banks like Corporation bank are not up to the mark(staff, online services).

AUDIT of KYC by Professionls(CA/CS/CMA) should be made mandatory.

Make a Regulatory authortiy for management of ATM's in India. Cash Tree Network shall be formed and all the banks should come under on roof for use of ATM, This will help in even distribution of ATM'S across the country and also reduce the cost. Rupay Card should be encouraged and made mandatory for all account holders of PSU Banks.

The Indian Banking system has very weak Control System Audit which is done by Internal and RBI. The Internal Auditors are Bank Employees cannot have 100% freedom to expose the Red/Grey Areas and RBI doesn't have Professional Commercial Bankers to audit banks. Therefore the NPAs declared in the BS are tip of iceberg. Unless we wouldn't have an independent Audit Institution like CAG for Bank Audit it will be difficult to have a Real Audit Report of any bank.