Finance ministry invites applications for CVOs in PSU banks, insurers

The finance ministry has invited applications from eligible candidates for the position of Chief Vigilance Officers (CVOs) in various public sector banks and insurance companies.

Applications have been called for CVO positions in five lenders, including Canara Bank, Indian Bank and Bank of India.

Besides, CVO position would also fall vacant in New India Assurance Co and IFCI during this year.

Position of CVO would also be filled at Punjab National Bank, Punjab & Sind Bank, General lnsurance Corporation and National Bank for Agriculture and Rural Development (Nabard).

Applications are invited for filling up the posts of Chief Vigilance Officers (CVOs) in various Public Sector Banks (PSBs), Public Sector Insurance Companies (PSICs) and Financial Institutions (FIs), according to a notification issued by the Department of Financial Services, under the finance ministry.

Selection of the candidates shall be made by the government in consultation with Central Vigilance Commission (CVC) on the basis of their record of service and interaction with the selection committee, it added.

The officers selected as CVOs shall draw pay equal to their existing pay in their parent organisation plus deputation allowance thereon equal to 10 per cent of their basic pay, it said, adding they will be entitled to perquisites admissible to next higher position in the borrowing organisation.

As per the eligibility criteria for appointment of CVO in PSBs, it said, Chief General Managers (CGMs) of those PSBs where CGM post is introduced, including SBI, having minimum 3 years of residual service are eligible to apply.

Officers are not eligible to apply for the post of CVO in their parent organisation, it added.

Last date of submission of application is June 15.