Banks’ audit reforms panel gets new chief

The Union Government has appointed Mr K. Narasimha Murthy, a chartered accountant, as member-convenor of the Implementation & Motioning Committee to oversee the audit reform process in public sector banks. The committee has to ensure that this process is completed in all the banks by March 31 next year. Mr Murthy is now a member on the board of supervision, Nabard, and also director on the boards of LIC Housing Finance Ltd, AP State Finance Corporation, Max India Ltd and Max Health Care Institute Ltd, according to a release.