The Reserve Bank of India today introduced
Protected Disclosures Scheme for private and foreign banks operating in India.
issued to private sector and foreign banks operating in India in this regard is
placed on the RBI website at www.rbi.org.in
for information of members of public. Public sector banks and the Reserve Bank
of India (since it is an entity established under Central Statute) have already
been brought under the purview of Government of India scheme.
applicable to private sector and foreign banks operating in India has been formulated
broadly on the lines of Government of India Resolution dated April 21, 2004 authorising
the Central Vigilance Commission (CVC) as the designated agency to receive written
complaints or disclosure on any allegation of corruption or misuse of office by
any employee of the Central Government or of any corporation established by it
or under any Central Act, government companies, societies or local authorities
owned or controlled by the Central Government and recommend appropriate action.
It may be recalled that
as a proactive measure to strengthen financial stability and with a view to enhancing
public confidence in the financial sector, the Reserve Bank of India had proposed
to introduce a scheme called 'Protected Disclosures Scheme for Private Sector
and Foreign Banks'. The draft of the proposed scheme was placed on RBI website
on January 25, 2006 and suggestions were invited from all concerned, including
members of public. The Scheme has since been finalised after taking into account
all the suggestions and put in place with immediate effect.
Chief General Manager
Release : 2006-2007/1423