ForumIAS LATEST
- 08 June | Sociology Optional Strategy Session with AIR 10 Ujjwal Priyank Click Here to register →
- 08 June | Geography Optional Strategy Session with AIR 39 Rohin Kumar Click Here to register →
- 09 June | Ethics+ Class #1 + Case Studies Workshop by Mr. Ayush Sinha | Click Here to register →
CVC wants to keep an eye on private banks
What has happened?
The Central Vigilance Commission (CVC) has urged the Prime Minister’s Office to bring private sector banks under its watch, citing the fact that they have been involved in many recent instances of malfeasance.
Current situation
Private sector banks are out of the CVC’s purview, but are subjected to statutory audits from the Reserve Bank of India (RBI)
CBI suspects a nexus between ICICI and Videocon
It has initiated a preliminary inquiry into loans granted by the country’s largest private lender ICICI Bank to Videocon Industries as it suspects a nexus between Deepak Kochhar, husband of the bank’s CEO and managing director ChandaKochhar, and Videocon chairman VenugopalDhoot
