High-ranking retired officers of public sector banks who allegedly indulged in malpractices and didn’t face any motion by way of banks will now come below the scanner of the Central Vigilance Commission.
The CVC has asked all PSBs to make sure any topic related to vigilance/corruption against retired senior officers of banks is reported to the commission at the first degree itself so that it is in a position to refer such instances promptly to the CBI, if wanted.
The transfer comes after the CBI booked several top-ranking former officers of stateowned banks on charges of corruption and irregularities.
The CVC, in a verbal exchange final week, informed the banks that the “Commission is required to be consulted to start with degree (relating misconduct or vigilance/corruption) in addition to 2nd degree (when motion/penalty is being determined), in matters of retired officers, i.e. officers of SMGS-V (Senior Management Grade Scale-V) and above (AGMs to CMDs), as consistent with the prescribed process when motion is proposed to be initiated after retirement below the pension laws too”.
The determination was once taken after the CVC discovered that PSBs aren't consulting it for first degree advice — which relates to matters related to vigilance or ahead of beginning motion below pension laws. The trigger, resources mentioned, was once a case where the UCO Bank control took a decision on charges against a DGM without conserving the CVC in the loop.
When contacted, central vigilance commissioner Ok V Chowdary informed TOI, “We had taken the (UCO) topic as a policy issue and reported it to the department of economic services and products. We mentioned whoever is below the jurisdiction of the CVC has to seek the advice of the commission on retired officers.”
CBI officers pointed out that banks don't record corruption matters against senior control/officers in time and infrequently, complaints relating frauds involving loads of crores are sent after 2-3 years.
The CVC has asked all PSBs to make sure any topic related to vigilance/corruption against retired senior officers of banks is reported to the commission at the first degree itself so that it is in a position to refer such instances promptly to the CBI, if wanted.
The transfer comes after the CBI booked several top-ranking former officers of stateowned banks on charges of corruption and irregularities.
The CVC, in a verbal exchange final week, informed the banks that the “Commission is required to be consulted to start with degree (relating misconduct or vigilance/corruption) in addition to 2nd degree (when motion/penalty is being determined), in matters of retired officers, i.e. officers of SMGS-V (Senior Management Grade Scale-V) and above (AGMs to CMDs), as consistent with the prescribed process when motion is proposed to be initiated after retirement below the pension laws too”.
The determination was once taken after the CVC discovered that PSBs aren't consulting it for first degree advice — which relates to matters related to vigilance or ahead of beginning motion below pension laws. The trigger, resources mentioned, was once a case where the UCO Bank control took a decision on charges against a DGM without conserving the CVC in the loop.
When contacted, central vigilance commissioner Ok V Chowdary informed TOI, “We had taken the (UCO) topic as a policy issue and reported it to the department of economic services and products. We mentioned whoever is below the jurisdiction of the CVC has to seek the advice of the commission on retired officers.”
CBI officers pointed out that banks don't record corruption matters against senior control/officers in time and infrequently, complaints relating frauds involving loads of crores are sent after 2-3 years.
CVC lens now on retired PSB officials who escaped action
![CVC lens now on retired PSB officials who escaped action]()
Reviewed by Kailash
on
May 08, 2018
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