The Central Economic Intelligence Bureau (CEIB) has launched an “Automated Search Portal” to help public sector banks (PSBs) with antecedent verification of prospective borrowers and non-performing assets (NPAs).

Banking & Finance

The Central Economic Intelligence Bureau (CEIB) has launched an “Automated Search Portal” to help public sector banks (PSBs) with antecedent verification of prospective borrowers and non-performing assets (NPAs). The portal was launched by CEIB Director General Amit Mohan Govil and SBI Chairman Dinesh Khara in a meeting with all public sector banks in Mumbai. It aims at equipping banks with quick access to information for taking timely decisions with regard to credit sanction. As per the “Framework for timely detection, reporting, investigation etc relating to large value bank frauds” (May 13, 2015 and November 6, 2019) issued by Department of Financial Services, Ministry of Finance, PSBs seek report from the Bureau before sanction of loan exceeding ₹50 crore and above in case of new borrowers and if the existing borrower’s accounts turn NPA.


      In August 2022, at the request of IBA, C.E.I.B devised a uniform format for seeking reports and also advised all PSBs to appoint nodal officers as a designated Single Point of Contact (SPOC) to communicate with banks.

     

     

 

     


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