Government Assures the Public Sector Banks (PSBs), Financial Institutions (FIS) and Insurance Companies of Freedom of Non-Interference in Matters of Commercial Decisions, Transfers, and Postings etc.

The Department of Financial Services, Ministry of Finance issued a circular yesterday to the Chief Executive Officers (CEOs) of all Public Sector Banks (PSBs), Financial Institutions (FIs) and Insurance Companies assuring them of freedom of non-interference in matters of commercial decisions, transfers, and postings etc. It was conveyed in very clear terms that the Government will not interfere in the commercial decisions of the Banks/FIs. It is further amplified as follows: