THIS may not go down well with the PSU banks. In a bid to put a check on unnecessary expenses on the part of the public sector banks, the Finance Ministry has warned the public lenders against purchase of "high value" staff cars. The interesting point is that some of these cars are later sold to officials at a depreciated price. "...it has been pointed out by the Vigilance Commission that banks are purchasing high value cars/vehicles," the ministry's Department of Financial Services (DFS) said in a communication to the chiefs of all public sector banks. In line...
