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The BFSI industry faced with restructuring and asset quality issues is insisting that they need time as they are preoccupied with other business issues due to COVID-19 outbreak.
Pressure is building upon the Reserve Bank of India (RBI) from the banking and financial services industry (BFSI) to defer the new auditors' guidelines for a year, which restricts the appointment of auditors for a period of three years and also allows only four banks for audit as against eight previously.
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