The North block has made yet another replacement, as the PM Narendra Modi led government had been on a spree to reshuffle the Lutyens's babudom. Meanwhile, for the new incumbent – financial services secretary Hasmukh Adhia – the task is cut out. Adhia took over the charge of the department of banking and financial services of the finance ministry Friday afternoon, and had a brief meeting with finance minister Arun Jaitley. Corruption in the banking system, defensive banking and Jan Dhan Yojana will remain the top priority for Adhia.
Adhia – a 1981 Gujarat cadre official – has been entrusted with the job of meeting the chairmen of all the public sector banks and create a ground for their meeting with the prime minister later this month. A top finance ministry official told dna, "The new banking secretary will meet the chairmen of all the PSBs. The meeting will happen soon. After the meeting, the PMO will be apprised about the problems being faced by the PSBs. The ministry will also take feedback from the banks on the implementation of the PM Jan Dhan Yojana as the ministry will apprise the PMO about the impediments in the implementation of the scheme."
Despite the pace of the account opening in the Jan Dhan scheme, which has touched almost seven crore mark and upwards of Rs 5,000 crore in deposits, the banks are facing pendency issues in the issue of the RuPay debit card.
The government will also be seriously taking up the matters pertaining to corruption in the banking sector. Three major public sector banks – the Oriental Bank of Commerce, Punjab and Sindh Bank, Dena Bank, have recently been involved in fixed deposit scams. Adhia is likely to take up the follow up of the forensic enquiry being conducted by various agencies in the coming weeks.
However, it is not clear what directions Adhia has got on the big non-performing asset accounts of corporates such as Vijay Mallya-led Kingfisher Airlines. State Bank of India is the lead banker in the group of consortium that has Rs 7,000 crore exposure with the Vijay Mallya-controlled firm.
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