Corruption

CVO, Central Bank
"Don't ever take a fence down until you know why it was put up."
― Robert Frost
CVO, Central Bank Corruption main impediment to growth

Main impediment

to inclusive growth,
says Central Bank CVO

On the occasion of 50th anniversary of Bank Nationalisation day, sitting on the dais : Mr Parshuram Panda, Chief Vigilance Officer of Central Bank Of India(centre). Seen alongwith him on his left : Mr S.R. Khatik, Field General Manager of Mumbai zone and on his rightShri SatishTalreja, Regional Manager of Thane region.

Thesynergyonline Banking Bureau
NEW DELHI, JULY 24 : On the occasion of 50th Bank Nationalization day, CVO, Central Bank of India, Mr Parshuram Panda dares to fight out corruption from the system. Addressing Officers / Employees of CBI, Thane Region, Mr Panda told : Corruption is the main impediment for inclusive growth in the society. Our economy is growing at a faster rate than most of the countries in the world. But still one in every four persons in the society does not get a square meal a day. Basic amenities like a house, safe drinking water, toilet and clothes are far from their reach.

They have been pushed to abject poverty. The main reason for this is the prevalence of wide spread corruption in our system which blocks the fruits of economic growth to reach the common man, Sri Panda told. CVC, a statutory body was established by the act of the parliament to root out corruption in the public sector.

Every PSU is having a Vigilance Mechanism and is headed by a Chief Vigilance Officer, the representative of the CVC. The main function of CVO is to strengthen the system and processes to prevent corruption to nab the corrupt officials and give them exemplary punishment and to create awareness in the Civil society to join hands with Vigilance Mechanism to fight out corruption. Govt. of India has amended the Prevention of Corruption Act-1988 (PCAct), last year.



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Now the action against the bribe givers are taken on the same footing as is being done in case of bribe receivers. Working of Whistle blower policy empowers public to lodge complaints of corruption with public authority. Their identity shall be kept secret. The Civil Society, at large, to participate and cooperate in spreading awareness and fighting corruption, Mr Panda said.