Create additional lending and liquidity to the tune of Rs 5 lakh crore
The finance minister has announced measures to boost economy, including upfront release of Rs 70000 crore of capital for public sector banks aiming for additional credit expansion through PSBs.This capital infusion is expected to create additional lending and liquidity to the tune of Rs 5 Lakh crore. The move will benefit corporates, retail borrowers, MSMEs, small traders, etc.
Protecting honest decision making In order to support decision making and to prevent harassment for genuine commercial decisions by bankers, CVC has issued directions that Internal Advisory Committee (IAC) in banks would classify cases as vigilance and non-vigilance. Decision of the IAC and bank CVO/ DA would be treated as final.
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