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Saturday, July 2, 2011

CVC bans Corporation Bank from awarding tenders!

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2 JUL, 2011, 05.20PM IST,IANS  / economictimes.

CHENNAI: The Central Vigilance Commission (CVC) that probed irregularities in the public sectorCorporation Bank has asked it not to issue or award tenders for appointment of technical, management consultants on retainer basis or for expanding the bank's insurance, wealth and asset management business, due to violations of norms. 

The CVC has also sent its recommendations to the department of financial services under the union finance ministry on the probe report submitted by its two-member team. 

"Some decisions are being taken," Vigilance Commissioner R. Sri Kumar told IANS by phone. 

Kumar said he is hopeful that the action on the probe report would begin soon. 

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