Call Us Now

+91 9606900005 / 04

For Enquiry

legacyiasacademy@gmail.com

EXTEND LOANS WITHOUT FEAR OF 3CS: FM

Why in news?

Finance Minister Nirmala Sitharaman on 23rd May 2020 said banks had been asked to extend loans automatically to eligible borrowers without ‘fear of 3Cs — CBI, CVC and CAG’.

Details

  • Clear instructions had been given in a meeting with CEOs and MDs of public sector banks and financial institutions on 22nd May that the banks should not be scared to extend loans as 100% guarantee is being given by the government.
  • It is being said that the genuine bonafide decisions in the banking sector are being impacted because of the worry of undue harassment by 3Cs — Central Bureau of Investigation (CBI), Central Vigilance Commission (CVC) and Comptroller and Audit General (CAG).
  • The Finance Ministry has taken several steps to allay those fears including withdrawing some of the notifications which were causing fear among bankers.

Click Here to read more about CVC

January 2023
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
3031 
Categories