CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The Honourable President of India appointed AS Rajeev as Vigilance Commissioner of the Central Vigilance Commission on February 9, 2024. He took his oath as Vigilance Commissioner on March 11, 2024, before the Central Vigilance Commissioner, who was appointed by the President of India under the Central Vigilance Commission Act of 2003.
Successful Banking Career
Shri AS Rajeev is a career banker with more than 38 years of experience at four banks: Syndicate Bank, Indian Bank, Vijaya Bank, and Bank of Maharashtra. During his stint as Executive Director at Indian Bank, the bank became one of the strongest and most lucrative in India, with the lowest non-performing assets and the greatest capital adequacy ratio.
Transforming Maharashtra Bank
Shri Rajeev, who has served as Managing Director and CEO of Bank of Maharashtra for the past five years, has been instrumental in the bank's recovery. Under his guidance, the Bank of Maharashtra successfully emerged from the Reserve Bank of India's Prompt Corrective Action and grew from a small to a strong mid-sized bank.
He successfully guided the bank to become the best-performing public sector bank in the country, outperforming all major business and profitability metrics while retaining the highest asset quality.
Prominent Roles And Recognitions
Shri Rajeev has held Nominee Director positions at prestigious institutions including EXIM Bank, New India Assurance Co Ltd, and the National Payments Corporation of India (NPCI). He has also served as Vice Chairman of the Indian Banks Association and a member of the Core Group established by the RBI to implement Indian Accounting Standards.
Swearing-In Ceremony
Senior officers from the DoPT, CBI, ED, and Central Vigilance Commission attended the swearing-in ceremony.
Central Vigilance Commission
The Central Vigilance Commission Act of 2003 authorizes the appointment of a Central Vigilance Commissioner and two Vigilance Commissioners. The Vigilance Commissioner's tenure is four years, or until the incumbent reaches the age of 65.
Shri AS Rajeev's selection as Vigilance Commissioner in the Central Vigilance Commission reflects his significant expertise and outstanding achievements in the banking sector. With his leadership abilities and expertise, he is well positioned to contribute significantly to the Commission's purpose of fostering transparency, accountability, and integrity in public administration.
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