Finance Ministry Seeks Timely Reporting Of Vigilance Matters

The Ministry of Finance has directed public sector undertakings (PSUs), including public sector banks and insurance companies, to promptly report vigilance-related inputs concerning whole-time directors (WTDs), according to a Press Trust of India (PTI) report.

In an advisory issued by the Department of Financial Services (DFS), the ministry said such information was often shared only when vigilance clearance was sought from Chief Vigilance Officers (CVOs). The DFS said inputs such as complaints, court observations, references from the Central Bureau of Investigation (CBI), and other agencies were not disclosed at the required stage. It noted that some entities omitted details due to the absence of specific columns in formats. The ministry said these gaps affect appointments, promotions, and board postings. Entities have been told to report inputs even if linked to non-board roles. Submissions must include court directions, audit findings, and internal committee reports.