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Shaji K V took charge as NABARD Chairman from Dec 7: Govt in Parliament


Shaji K V has taken the charge as Chairman of National Bank for Agriculture and Rural Development (NABARD) with effect from December 7, 2022, the government on Monday informed .

He has taken over from Suchindra Misra, Additional Secretary, Department of Financial Services, Ministry of Finance, who was holding additional charge, Minister of State for Finance Bhagwat Karad said in a written reply to the Lok Sabha.

Further, Karad said there are two board level vacancies in the organisation while 514 vacancies are at the group A level.

Replying to a question, the minister said more than 12 lakh loans have been extended by public sector banks in rural areas across the country for setting up business, after the Covid period, that is, from April, 2020 to November, 2022.

It has been conveyed by the RBI that they have received 1,230 complaints under RBI Ombudsman pertaining to ‘Delay in loan sanction/disbursement or non-observance of prescribed time schedule for disposal of loan applications’ during the period of December 1, 2021 to November 11, 2022, Karad said.

Of these, 1,139 complaints have been disposed of, he added.

Replying to another question, Karad said Public Sector Banks (PSBs) have hired about 86,996 contractual employees for various activities.

As per PSBs and Indian Banks’ Association, public and private sector banks utilise the services of outsourced agencies to engage the contract workers for non-core banking activities, such as housekeeping, security guards, ATM guards, etc, he said.

This outsourcing is done as per Reserve Bank of India’s (RBI) guidelines regarding engaging contract workers on contract basis, he said.

The wages to such contract workers are paid as per the minimum wages prescribed by the government from time to time, he added.

In a separate reply, Karad said recently, all ministries/departments of the have been asked to take action in ‘Mission Mode’, to fill the existing vacancies.

With regard to ATM fraud, Karad said that the amount involved in such frauds, based on the year of occurrence, has declined from Rs 116 crore in the financial year 2019-20 to Rs 76 crore in the financial year 2020-21, registering a decline of 34.5 per cent and to Rs 68 crore in the financial year 2021-22, a fall of 10.5 per cent as per the data provided by the RBI.

To another question, he replied, DICGC has settled deposit insurance claims of 3,06,146 eligible depositors of 35 banks under All Inclusive Directions (AID), amounting to Rs 4,055.10 crore from September 1, 2021, the date from when the DICGC (Amendment) Act, 2021 came into effect till November 30.

DICGC (Amendment) Act, 2021 enables depositors to get time-bound access to their deposits up to Rs 5 lakh through interim payments by Deposit Insurance and Credit Guarantee Corporation (DICGC) within 90 days of imposition AID.

On Account Aggregator (AA), Karad said that the RBI has granted Certificate of Registration to six companies till date.

AA network has been introduced as a financial data-sharing system that could facilitate investing and credit, giving consumers access and control over their financial records and expanding the potential pool of customers for financial sector entities and fintech companies, he said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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