National
Bank body seeks wider engagement with government
New Delhi, March 21 (IANS) The Banks Board Bureau headed by former CAG Vinod Rai has sought a wider mandate and a greater organic link with the government to provide greater utility on matters of governance and performance of public sector banks (PSBs).
In a compendium of recommendations published on its website, the Bureau sought from the government the mandate to engage with various stakeholders and offer advice to ensure that the PSB consolidation is least disruptive.
Seeking dialogue with the Finance Ministry, it said that without a greater interaction with the Ministry, the Bureau was merely functioning as an appointment board.
“If the government does indeed desire to make the Bureau address issues of governance around PSBs in a holistic manner and make its output effective, there is need for an organic relationship between the government and the Bureau,” it said.
The Bureau added that it had made various recommendations to address the root cause of the challenges presently faced by the PSBs but was not aware of the progress made in that regard and that there had been no further engagement with government.
It said that India now deserved a public sector banking system which could offer a long term sustainable growth rate “rather than a public sector which amplifies the excesses of the credit boom with extreme risk aversion during credit bust and the attendant reliance on the tax payer’s funds”.
“To make this happen requires reworking of nearly five decades of institutional structures and processes which was put in place with the nationalisation of banks.
“It is very much in the realms of possibility to rework the same while the government continues to retain at least 51 per cent of the shareholding in PSBs recognising their strategic importance in India’s developmental framework,” it said.
To work in that direction, the Bureau sought the mandate to provide an independent feedback to the Finance Minister at least on a half yearly basis on the degree of implementation of its various recommendations related to governance, reward and accountability framework.
“In order to provide the independent feedback, the Bureau will engage with the boards of PSBs, the Department of Financial Services and the regulatory and supervisory functions of the Reserve Bank of India,” it said.
It also sought the mandate to present its quarterly assessment to the Finance Minister on the relative performance, the respective capital assessment and growth assessment of each public sector bank.
“These mandates are being suggested to further reinforce and institutionalise the zero interference policy of the government,” it said.
In a letter dated July 27, 2017, the Bureau sought a meeting with Finance Minister Arun Jaitley to discuss these matters and it was still awaiting that meeting.
–IANS
vv/in/vm
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
Cheers and Cheers: Barzilla’s Joyful Ode to Inclusivity and Celebration
Casino Days Reveal Internal Data on Most Popular Smartphones
Meghalaya Reserves Legalized Gambling and Sports Betting for Tourists
IPL 20202 UPDATE: KXIP vs MI IPL Dream11 Team Prediction for Today Match, Update Point Table of all Team.
In a Live debate AAP leader Syed Asad Abbas hurls abuses to BJP spokesperson Nupur Sharma.
‘India’s Most Wanted’ trailer out Arjun Kapoor on hunt of Osama-Bin-Laden
Time to move on: Sonakshi on Shatrughan’s joining Congress
