Latest Indian Business News Financial World - Latest Articles Latest World News

CVC Penalises 81 Government Officials - Majority of Them Being from Nationalised Banks -  Maximum officials are from Syndicate Bank and Punjab National Bank

 

Press Information Bureau has issued press release wherein it is reported that the Central Vigilance Commission (CVC) disposed of 1323 cases during November 2011 referred to it for advice. Of these, 1149 complaints were sent for necessary action/ATR whereas 88 complaints were sent for investigation and report. No action was required on 495 complaints.
 

The Commission advised imposition of major penalty against 81 officers including :-

 

• 10 each from Syndicate Bank, Western Coalfields Ltd.,

• 9 from Punjab National Bank,

 

• 8 from Indian Council of Agricultural Research,

• 7 from Ministry of Railways,

• 5 from State Bank of Mysore,

• 4 from State Bank of India and

• 3 each from Union Bank of India, M.C.D. and Central Board of Excise & Customs.

• Remaining 19 cases pertained to different departments of the Government of India and PSUs.
   

The CVC also made a recovery of about Rs. 1.44 crore after inspecting procurement and other public works of government departments during the month. 

 

 

PS - comments by AllBankingSolutions.com :  It is a sad state of affairs that maximum officials who have been penalised are from nationalised banks.  We have always been highlighting about the growing corruption in the banking sector specially the nationalized banks.  Today's report of CVC has proved that flattery and corruption have taken deep roots in the banking sector.  

 

We are still of the view that majority of the bankers are honest and hard working, but a small section of the bankers are highly corrupt and they are able to get the prime posts and fast track promotions by supporting the corrupt bosses.    It is openly discussed in the banking circles that promotions to the top posts in banking sector are almost always on financial considerations. 

 

Good people in the banking sector are finding their survival more and more difficult and are frequently denied promotions beyond Scale IV.  They are regularly bullied by the corrupt bosses and witch hunted as they fail to meet the aspirations of the top management in managing the booty for them.   One of the major reasons for the increasing NPA levels in the banking sector is the large scale corruption at various levels and shielding of the corrupt bankers by the top management.

 

We require a movement like "CORRUPTION  FREE  BANKING  IN  INDIA".  Will ever some Anna  come and bring this issue at national level ?  Chances appear to be bleak as even the Anna movement is getting weaker and weaker.