The Reserve Bank of India (RBI) has decided to modify the rest period in the appointment of statutory central auditors (SCAs) by banks. As per the decision, an audit firm will not be eligible for appointment as statutory central auditor (SCA) of a bank for six years after completing its four-year tenure in that particular private or foreign bank. Hitherto, an audit firm, subject to its fulfilling the prescribed eligibility norms, was allowed to continue as the SCA for a particular bank for a period of four years, and, thereafter, it was compulsorily rested for a period of two years.