After years of struggle to get autonomy in decision making, chiefs of state-run banks may lose chunk of their powers, as mounting non-performing loans bring their lending practices into sharp focus.
The Central Bureau of Investigation (CBI), has suggested that the discretionary powers of chairman and executive directors should be revoked in order to curb corruption.
In a report shared with the finance ministry recently, the CBI has pointed out that large borrowers can influence the top management of the banks in order to ease the loan-sanctioning process, a government official told ET. State-run banks, however, have opposed the proposal.
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