The law, which deals with accountability of public servants, is in the final stages of its amending process. It's before the standing committee and hope in the next session it comes up.
The Prevention of Corruption Act, 1988, which constrains a lot of public servants, and also banking, he said. It will help them (PSBs executives) take prompt action, especially on resolving stressed loans without fear of being punished for bona-fide decisions, Jaitley said,addressing SBI's Banking and Economics Conclave in Mumbai. Lack of decision making and consensus is hampering banks. The oversight committee to vet non-performing assets (NPAs) sale decision would also aid banks in decision making.
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Flagging security of country as top priority, Jaitley indicated their will be no constraints on resources for protecting sovereignty of nation.
"We have a major security challenge, and therefore security challenges also involve an element of uncertainty. It also involves a lot of national resources being diverted in that direction", finance minister said.
The security challenge will always be a priority over every other requirement of the country because sovereignty of the country is the first priority.