Finance Minister Nirmala Sitharaman said on Saturday that her justified commercial decisions can be protected and she need not fear the CBI and other agencies. In banking circles, CBI, CAG and CVC are called 'three Cs'. In a pre-budget meeting with the heads of public and private sector banks, Sitharaman assured the bankers that appropriate commercial decisions could be defended. The minister said that in recent years there has been a concern among the bank officials about the investigating agencies. Real decisions are also being affected by this.
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Minister reassured bankers
Sitharaman said after the meeting, "No case goes to CBI without a decision by the bank. The CBI does not register a case against the bank by taking self- knowledge cognizance. It has to be understood very clearly that banks have an internal committee which investigates fraud on some account or in some case and has well-defined protocol for it. ''
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Banks should handle pending cases against officials
She said that it is sent to the Reserve Bank only after the decision of the bank's internal committee. Only then the case is referred to the CBI. Only cases worth more than 3 crore rupees are referred to the CBI. Along with this, the Finance Minister asked the public sector banks to settle pending corruption cases against their officials soon.
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Apart from this, she also announced not to charge any MDR for payment through selective means. She pointed this out in the budget presented on July 5 to promote digital payments. This rule can apply to RuPay Debit Card and UPI Payment.
