Page 5 - Banking Finance March 2025
P. 5

BANK UPDATE

                                                                               tor banks to overhaul their approach
                                                                               to debt recovery tribunals (DRTs) and
                                                                               bring about synergy in the way cases
                                                                               are filed, officials said.
                                                                               Banks are also exploring the legal fea-
                                                                               sibility of withdrawing cases from mul-
                                                                               tiple jurisdictions and refiling them
                                  Ò»©­                                         upon tracing assets.
                                                                               An official that the idea is to stream-
                                                                               line the approach and do away with the
                                                                               multiplicity of appeals across jurisdic-
                                                                               tions against a single borrower with
                                                                               consolidated filing of cases.
                                                                               "This will help streamline recovery ef-
           SBI appoints Baldev Prakash group Chief Risk Officer                forts and also address complaints of

           State Bank of India has appointed Baldev Prakash as the deputy managing  borrowers who are willing to settle
           director and group chief risk officer, the lender informed the exchanges.  dues but face issues on account of
                                                                               multiple cases in different locations,"
           Earlier, Prakash was on deputation to Jammu and Kashmir Bank as manag-  said the official, who did not wish to be
           ing director and chief executive officer, whose three-year term ended in De-
                                                                               identified.
           cember.
                                                                               As per the latest data, around 185,076
           The bank has also stated that Shiva Om Dikshit has been entrusted with a
                                                                               cases are pending for more than 180
           new responsibility as deputy managing director, operations-channel man-  days before the DRTs.
           agement.
                                                                               Banks are also examining if there are
                                                                               provisions under which they can with-
         Claim about ban on black           front Black and White and back Black  draw cases in other jurisdictions where
                                            and White. Customers should use image
         ink  usage  for  writing           friendly coloured ink to write cheques to  they don't have any collateral.
         cheques is false: Govt             facilitate clear image of written infor-  "This,  however,  may  require  some
                                            mation. Further, customers should use  changes in existing provisions, which is
         Some recent social media posts claimed
         that the Reserve Bank of India (RBI)  permanent ink to prevent fraudulent  being explored and may require wider
         has prohibited the use of black ink on  alternation of contents later. However,  consultations with other stakeholders,
         cheques. To clear the air on this sub-  the Reserve Bank of India has not pre-  including the RBI," a bank executive
         ject the Press Information Bureau (PIB)  scribed specific ink colors to be used to  said on condition of anonymity.
         has come out with a release.       write cheques," according to 'frequently  Last year, the government had asked
                                            asked  questions'  section  on  the  banks to put in place monitoring and
         "It is being claimed in social media
                                            regulator's website.               oversight mechanisms  for efficient
         posts that RBI has issued new rules
                                            Cheques with alterations or modifica-  management of cases pending with
         prohibiting the use of black ink on
                                            tions are not accepted under the CTS.  DRTs. Lenders were also directed to
         cheques. This claim is fake. Reserve
                                            No changes or corrections are permit-  have a clearly defined policy for small
         Bank of India has not prescribed spe-                                 and  high-value cases pending  with
         cific ink colors to be used for writing  ted on cheques, except for date valida-  DRTs for optimising recovery.
         cheques," said PIB's Fact Check ac-  tion, if necessary.
         count on X.
                                            PSU  Bank  told  to  club Bank of  Baroda's  global
         "There  are  three  images  of  each
         cheque that are taken in (Cheque Trun-  cases at DRTs                 business up 12% in Q3
         cation System) CTS - front Gray Scale,  The government has asked public sec-  Bank of Baroda (BoB) reported a 12


            BANKING FINANCE |                                                                MARCH | 2025 | 5
   1   2   3   4   5   6   7   8   9   10