(LiveMint)
In an attempt to shield honest bankers from prosecuting agencies, the Parliament on Tuesday amended the Prevention of Corruption Act, accepting a long-standing demand. Consequently, agencies will have to seek prior nod from appropriate authorities before proceeding to arrest a bank official accused of misdemeanor.
The Prevention of Corruption (Amendment) Bill, 2013, amends the archaic Prevention of Corruption Act, 1988. The passage of the bill comes at a time when many current and former bankers have been arrested for extending loans that soured later. The expectation is that with this cover in place, there could be a revival in bank lending. The anti-corruption law accords punishment to both the bribe giver as well as the taker. The amendments propose that a police officer will now have to take prior permission from appropriate authorities while pursuing cases against all public servants. Earlier, prior permission was needed only for joint secretaries and above.