RBI, Cabinet Secretary Scrutinizing Appointments of PSU Bank Chiefs: Jaitley
New Delhi: Close on the heels of Syndicate Bank chairman's arrest for alleged graft, Finance Minister Arun Jaitley has said the government will deal with PSU lenders sternly and is scrutinizing recent appointments of bank heads.
"Time has come to be strict with PSU banks. I have urged the Cabinet Secretary and the RBI Governor to examine recent appointments in public sector banks," he told reporters on Thursday.
The Central Bureau of Investigation (CBI) had recently written to the Finance Ministry alleging "irregularities" in appointments of chiefs of PSU banks, following which Mr Jaitley called for a closer scrutiny of recent appointments.
Syndicate Bank chairman and managing director (CMD) S K Jain was arrested earlier this month for allegedly receiving a bribe of Rs 50 lakh to enhance credit limits of a company.
A panel headed by RBI Governor selects PSU bank chiefs. Applications are processed by the Cabinet Secretary and placed before the Appointments Committee of Cabinet (ACC) for its final approval.
State-run banks in which CMDs were appointed recently include Canara Bank, Corporation Bank, Bank of India, IDBI Bank, Allahabad Bank and Central Bank of India.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
