Sunday, October 10, 2010

CIC asks SBI to furnish investment details of corpus fund

In a landmark decision which would pave the way for investors of public sector banks, the central information commission (CIC) has asked the largest bank of the country, State Bank of India, to reveal all information related to the fund, called SBS REMBS scheme and provident fund (PF) surplus account. This comes after a retired employee of State Bank of Saurashtra (SBS) Bhavnagar had filed an RTI application to know how the bank managed Rs 100 crore worth of savings.

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