PSBs can now check on big borrowers on unified portal

Syllabus: GS-III

Subject: Economy

Topic: Banking and Financial Intermediaries

Issue: Central Economic Intelligence Bureau

Context: An “Automated Search Portal” was operationalised by the Central Economic Intelligence Bureau (CEIB) in collaboration with the State Bank of India.

Objective: To check the antecedents of prospective large borrowers.

  • Ascertain the existence of any non-performing assets against their name.
  • All Public Sector Banks are mandated to seek a report from the CEIB before sanctioning loans exceeding ₹50 crore to new borrowers.
  • To help in making informed decisions regarding

Prelims Connect: (Institutions in News)

Central Economic Intelligence Bureau (CEIB)

  • It is an intelligence agency responsible for gathering information and monitoring the economic and financial sectors for economic offences and warfare.
  • Established in 1985.
  • Nodal agency for economic intelligence in the country.
  • functions under the Department of Revenue, Ministry of Finance.


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