Yak Pnb Scam Lawsuit : Novel Transfer Rules For Banking Corporation Officers In Addition To Clerks 2018

In the wake of recent Punjab National Bank fraud case, the Central Vigilance Commission (CVC) today issued an advisory to all the Public Sector Banks (PSBs) ordering them to transfer the Officers who convey completed the tenure of 3 years equally on 31st Dec 2017. While inwards the same advisory, the CVC too mandated to transfer the Clerical staff who convey completed 5 years tenure equally on 31st Dec 2017. The CVC stressed that this novel advisory to endure implemented immediately.  Bank of Baroda has already started implementing the process.

About CVC
The Central Vigilance Commission (CVC) is an apex Indian governmental torso to  address governmental corruption. It has the condition of an autonomous body, costless of command from whatever executive authority, charged amongst monitoring all vigilance activeness nether the Central Government of India, advising diverse authorities inwards fundamental Government organizations inwards planning, executing, reviewing as well as reforming their vigilance work.

About PNB Scam

The Punjab National Bank scam is seen equally i of the biggest banking scams in the history of Republic of Republic of India equally it involves a fraud of $1.8 billion. Billionaire diamond merchants Nirav Modi as well as Mehul Choksi are the key players inwards the scam. The scam was started inwards 2011 as well as was detected inwards the tertiary calendar week of Jan this year, later which the PNB officials filed a complaint amongst the CBI on Jan 31.

According to a late released RBI data, at to the lowest degree i banking firm staffer is caught as well as punished for interest inwards fraud every 4 hours on an average.

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