NEW DELHI, June 26:
The Central Vigilance Commission (CVC) can now probe allegations of corruption in private sector banks and against their employees.
Vigilance Commissioner T M Bhasin told PTI the Reserve Bank of India (RBI) has given the necessary approval to the CVC on this.
The move comes after the Supreme Court last year ruled that the chairman, managing directors and other officers of a private bank could be seen as public servants when it came to the Prevention of Corruption (PC) Act, 1988.
The anti-corruption watchdog is the statutory body which probes cases of graft involving central government departments, public sector organisations (including banks and insurance companies) and their employees.
“The CVC can now also look into cases of corruption involving private sector banks and their managements like CMDs and MDs,” Bhasin said. (PTI)
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