The finance ministry has directed public sector banks and financial institutions, including insurance companies, to promptly report vigilance-related matters concerning whole-time directors (WTDs) of their respective companies.
The directive from the Department of Financial Services (DFS) under the ministry follows several instances where adverse information about board-level appointees was not promptly reported.
In many cases, it said, such critical adverse inputs like private complaints, court observations, references or inputs from the CBI or other Law Enforcement Agencies are being reported only at the time when Vigilance Clearance is specifically sought from the Chief Vigilance Officers (CVO) of PSUs.
Without citing any specific case, the advisory issued earlier this month, said, in certain cases even the crucial information relating to WTDs is omitted in the Vigilance Clearance formats on the ground that no specific column exists for such disclosure.
Observing that omission oThe finance ministry has directed public sector banks and financial institutions, including insurance companies, to promptly report vigilance-related matters concerning whole-time directors (WTDs) of their respective companies.
The directive from the Department of Financial Services (DFS) under the ministry follows several instances where adverse information about board-level appointees was not promptly reported.
In many cases, it said, such critical adverse inputs like private complaints, court observations, references or inputs from the CBI or other Law Enforcement Agencies are being reported only at the time when Vigilance Clearance is specifically sought from the Chief Vigilance Officers (CVO) of PSUs.
Without citing any specific case, the advisory issued earlier this month, said, in certain cases even the crucial information relating to WTDs is omitted in the Vigilance Clearance formats on the ground that no specific column exists for such disclosure.
Observing that omission o Latest News [ SOBAN NEWS: International and National ]