The Finance Ministry has received a confidential advisory from the Central Bureau of Investigation (CBI) in which the agency has said that the 2013 appointment of S K Jain, the suspended chairman and managing director of Syndicate Bank, “lacked transparency and smacks of unfair practices”.
The CBI has advised the Ministry that action should be taken on the information “as deemed proper”.
The advisory, signed by CBI Director Ranjit Sinha, was sent to Finance Minister Arun Jaitley on August 11. Ministry officials told The Indian Express that the advisory followed CBI’s scrutiny of voluminous banking appointment files.
Significantly, the CBI advisory mentions the role of Rajiv Takru — now Secretary in the Ministry of Development of North East Region — who was chairman of the sub-committee that recommended Jain’s appointment at its meeting on February 11, 2013. Takru was at the time Secretary, Financial Services.
- Varun Gandhi Under Attack Over Defence Deals: Here’s How
- This Diwali, Let Blind Students Brighten Up your Homes With Candles & Diyas
- CBI Files Supplementary Chargesheet In Sheena Bora Murder Case
- Soha Ali Khan And Vir Das Starrer 31st October Audience Reaction
- Sahara Chief Subrata Roy’s Parole Extended Till November 28
- Simple Tips To Secure Your Debit Card From Fraudsters
- New Zealand & India Team Being Welcomed In Chandigarh
- Mumbai Call Centre Scam: All You Need To Know
- Jammu Kashmir Chief Minister Mehbooba Mufti Appeals To Police: Here’s What She Said
- Shocker From Ahmedabad: Find Out What Happened
- Bigg Boss 10 Day 3 Review: Celebs Fail To Do Well in First Task
- Airtel Offers 10GB Data At Rs 259 For New 4G Smartphone Users
- Aamir Khan Starrer Dangal’s Trailer Launched: First Impressions
- TMC Supporters Attack BJP Leader Babul Supriyo
- Sri Lankan Navy Apprehends 20 Indian Fishermen
The “unfair practices” cited by the CBI is a reference to the fact that the sub-committee chaired by Takru gave S K Jain 29 marks out of 30 in his interview with the Banking Appointment Board. This high score helped to elevate Jain to the post, even though he had scored only 62 out of 70 in the ACR section.
Appointment files have revealed that 18 top bankers were interviewed for the CMD’s post, and one candidate had scored 70 out of 70 in the ACR section.
The sub-committee also picked candidates for seven other top banking posts other than that of the Syndicate Bank CMD. CBI officials said that depending on the advice of the Finance Ministry, these appointments too could be put under the scanner.
Takru defended Jain’s appointment, saying the sub-committee’s recommendation had been approved by a committee headed by then Reserve Bank of India Governor D Subbarao.
“The appointment of S K Jain was done through an absolutely fair process,” he told The Indian Express. “The interview board had three other members including an RBI Deputy Governor, and names of all selected candidates, including that of S K Jain, were cleared by the Vigilance Commission. I was only part of a process.”