Ten names shortlisted for appointment as CMDs in eight PSU banks-Business Standard
The high-level search panel is headed by Reserve Bank Governor Raghuram Rajan
A high-level search panel headed by Reserve Bank of India (RBI) Governor Raghuram Rajan has shortlisted 10 executive directors for the post of chairman and managing director (CMD) in eight public sector banks.
Bank of Baroda Executive Directors (ED) B B Joshi and P Srinivas, Punjab & Sind Bank’s M K Jain and K K Sansi, IDBI Bank Deputy Managing Director B K Batra are among the 10 shortlisted, sources said.
Their names have been sent to the finance ministry and would be subsequently forwarded to the Appointments Committee of the Cabinet (ACC), after vigilance and other necessary clearances.
According to sources, eight names may get the ACC approval for appointment by the end of this month. Two names could be put on the waiting list or dropped subject to certain clearances, they added.
It is not clear if Ashwini Kumar, the lone CMD (of Dena Bank) to have appeared for the interview on November 14 for lateral transfer to a bigger bank, has been shortlisted by the panel or not.
Nineteen candidates appeared for eight vacant posts of CMDs in state-run banks. These 19 candidates were interviewed by three sub-panels separately.
The vacant posts of CMDs are in Punjab National Bank, Bank of Baroda, Canara Bank, Indian Overseas Bank, Oriental Bank of Commerce, United Bank of India and Syndicate Bank.
The post of CMD in Vijaya Bank will fall vacant next month.
Earlier this month, the government had decided that all eligible candidates will have to go through sub-committees having two members.
The sub-committees had three outside experts. These experts were former managing director of State Bank of India, S Viswanathan, IIM Indore Director Rishikesha T Krishnan and former chairperson and managing director of Allahabad Bank, S Panse, sources said.
The other three members of screening committees were secretary and additional secretary in the Department of Financial Services, and an RBI deputy governor.
The names have been shortlisted by the appointment board chaired by the RBI governor. It was based on the weighted average marks given by each sub-committee to ensure objectivity and transparency.
The selection process for appointment as chairman and managing director of public sector banks was changed following the government scrapping the selections made by the previous UPA regime.
Last month, the government had cancelled selection of heads of six state-run banks and 14 executive directors made during the UPA tenure following a government-appointed panel finding irregularities in the process.
Ready to be more flexible in loan recast to spur growth: RBI-The Hindu
The RBI is ready to give banks more flexibility in restructuring of stressed loans if it facilitates recovery of stalled projects, Governor Raghuram Rajan said on Tuesday.
Bank of Baroda Executive Directors (ED) B B Joshi and P Srinivas, Punjab & Sind Bank’s M K Jain and K K Sansi, IDBI Bank Deputy Managing Director B K Batra are among the 10 shortlisted, sources said.
Their names have been sent to the finance ministry and would be subsequently forwarded to the Appointments Committee of the Cabinet (ACC), after vigilance and other necessary clearances.
According to sources, eight names may get the ACC approval for appointment by the end of this month. Two names could be put on the waiting list or dropped subject to certain clearances, they added.
It is not clear if Ashwini Kumar, the lone CMD (of Dena Bank) to have appeared for the interview on November 14 for lateral transfer to a bigger bank, has been shortlisted by the panel or not.
Nineteen candidates appeared for eight vacant posts of CMDs in state-run banks. These 19 candidates were interviewed by three sub-panels separately.
The vacant posts of CMDs are in Punjab National Bank, Bank of Baroda, Canara Bank, Indian Overseas Bank, Oriental Bank of Commerce, United Bank of India and Syndicate Bank.
The post of CMD in Vijaya Bank will fall vacant next month.
Earlier this month, the government had decided that all eligible candidates will have to go through sub-committees having two members.
The sub-committees had three outside experts. These experts were former managing director of State Bank of India, S Viswanathan, IIM Indore Director Rishikesha T Krishnan and former chairperson and managing director of Allahabad Bank, S Panse, sources said.
The other three members of screening committees were secretary and additional secretary in the Department of Financial Services, and an RBI deputy governor.
The names have been shortlisted by the appointment board chaired by the RBI governor. It was based on the weighted average marks given by each sub-committee to ensure objectivity and transparency.
The selection process for appointment as chairman and managing director of public sector banks was changed following the government scrapping the selections made by the previous UPA regime.
Last month, the government had cancelled selection of heads of six state-run banks and 14 executive directors made during the UPA tenure following a government-appointed panel finding irregularities in the process.
Ready to be more flexible in loan recast to spur growth: RBI-The Hindu
The RBI is ready to give banks more flexibility in restructuring of stressed loans if it facilitates recovery of stalled projects, Governor Raghuram Rajan said on Tuesday.
“The RBI is exploring ways to allow banks more flexibility in (loan) restructuring. This is a risk we are prepared to take if it allows more projects to be set on the track to recovery,” he said.
The RBI is ready to give the flexibility as it recognises the fact that it cannot micromanage distressed loans, he said.
“The RBI (Reserve Bank of India) opposes forbearance which simply pushes problems into the future, while it will allow more flexibility so that problem loans can be dealt with effectively today.”
He said the banks have been asking the RBI for greater flexibility to restructure bad loans so as to align them with the cash flow of projects, and for the ability to take equity so as to get some upside in distressed projects.
An estimated Rs 20 trillion worth of projects are stuck at various stages for want of land, or environmental clearances or other regulatory or public approvals.
As of April-June this fiscal, bad loans, including those recast ones, have crossed 10.4 per cent of the total assets.
The RBI as part of its NPA management measures had tightened the loan recast norms, forcing banks to make higher provisions that hit their bottom lines.
From over 9 per cent growth in the pre-2010-2011 period, the economy had slumped to sub-5 per cent growth in the past two fiscals.
Rajan said the demand by the banks was legitimate as they imply a desire to deal more effectively with distress.
Rajan said the regulator has been reluctant to allow lenders this flexibility in the past because it has been misused by many bank management.
The Governor said a large number of industries were getting together with banks to clamour for regulatory forbearance, as they want the RBI to be ‘realistic’.
As many as 850 cybercrime complaints were registered in 10 months till October 2014 compared with only 350 such complaints in all of 2013. So, at the end of the year, more complaints are likely to be registered. In 2012, 380 cyber fraud complaints were registered. Credit and debit card fraud cases top the chart of cybercrimes. There has been a fivefold increase in such cases over the past three years. According to the data, obtained from the cyber crime cell of the city police department, around 277 complaints of online banking/credit/debit card fraud have been reported this year, followed by 91 Facebook-related complaints (morphed pictures/cyber stalking/cyber bullying).
Other major cyber complaints were cheating through mobile (61), hacking of e-mail ID (59), abusive/offensive/obscene calls and SMS (55), and others.
The cyber crime cell claims to have completed investigation in over 60% for cases registered in 2013. Even this year, 70% cases have been detected till October 2014. The maximum number of complaints were received in the month of June (89), followed by September (86) and May (81).
A senior official of the cyber crime department said they have completed investigations into 475 out of 730 complaints till October 31, with 225 were still pending. In bank fraud complaints, the case is not registered if the bank compensates the complainant duped by fraudulent transactions.
Even home minister Rajnath Singh, while addressing cops at Hyderabad's National Police Academy, had expressed concern over rising cybercrime and said the home ministry has been asked to prepare an effective strategy to curb cybercrime. Stating 2013-14 statistics, he said cybercrime is increasing at the rate of 50% per year.
Last year, National Crime Records Bureau (NCRB) data had revealed that highest number of cyber crime cases in India were reported in Haryana. Most cases under the IT Act were registered in the state under section 66 (1) of the Act for offences of destroying information in computers. After this, Gurgaon Police made clear divisions within its cyber cell. The cell looks after the technical investigation and support required in crimes such as murder, kidnapping.
The older cell only deals with technical investigation of internet crimes such as online shopping frauds, cell phone and internet stalking, email hacking and credit card frauds.
Cybercrimes rise nearly 3-fold in 1 year-TOI
GURGAON: Expect criminals in tech-savvy Millennium City to be cyber-smart. According to statistics released by the cyber cell of Gurgaon police department, cybercrime complaints have gone up nearly three times compared with 2013, with credit card frauds topping the list followed by social networking-related crimes.As many as 850 cybercrime complaints were registered in 10 months till October 2014 compared with only 350 such complaints in all of 2013. So, at the end of the year, more complaints are likely to be registered. In 2012, 380 cyber fraud complaints were registered. Credit and debit card fraud cases top the chart of cybercrimes. There has been a fivefold increase in such cases over the past three years. According to the data, obtained from the cyber crime cell of the city police department, around 277 complaints of online banking/credit/debit card fraud have been reported this year, followed by 91 Facebook-related complaints (morphed pictures/cyber stalking/cyber bullying).
Other major cyber complaints were cheating through mobile (61), hacking of e-mail ID (59), abusive/offensive/obscene calls and SMS (55), and others.
The cyber crime cell claims to have completed investigation in over 60% for cases registered in 2013. Even this year, 70% cases have been detected till October 2014. The maximum number of complaints were received in the month of June (89), followed by September (86) and May (81).
A senior official of the cyber crime department said they have completed investigations into 475 out of 730 complaints till October 31, with 225 were still pending. In bank fraud complaints, the case is not registered if the bank compensates the complainant duped by fraudulent transactions.
Even home minister Rajnath Singh, while addressing cops at Hyderabad's National Police Academy, had expressed concern over rising cybercrime and said the home ministry has been asked to prepare an effective strategy to curb cybercrime. Stating 2013-14 statistics, he said cybercrime is increasing at the rate of 50% per year.
Last year, National Crime Records Bureau (NCRB) data had revealed that highest number of cyber crime cases in India were reported in Haryana. Most cases under the IT Act were registered in the state under section 66 (1) of the Act for offences of destroying information in computers. After this, Gurgaon Police made clear divisions within its cyber cell. The cell looks after the technical investigation and support required in crimes such as murder, kidnapping.
The older cell only deals with technical investigation of internet crimes such as online shopping frauds, cell phone and internet stalking, email hacking and credit card frauds.
No comments:
Post a Comment