India

Integrity Pacts in India's Banking and Finance Sector

Independent External Monitor (IEM) Appointed

Integrity Pacts in India's Banking and Finance Sector

Mission

Ensure transparency and integrity in the procurement processes of public financial institutions in India

Activities

In 2015, India's Central Vigilance Commission adopted an order mandating public sector banks, insurance companies and financial institutions to adopt Integrity Pacts to oversee public procurement and to appoint Independent External Monitors (IEMs) from 2016 onwards.

Additional information
Procurement authority: Reserve Bank of India
Monitor: Independent External Monitor (IEM) Appointed
Language: English
Start year: 2015
End year: Ongoing

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Start Year

Status

  • active
    The initiative or project is currently being worked on.

Countries Operations

Countries Host

Scope

  • national
    Initiative that operates in and focuses mainly on one country, whether on a national or sub-national level.

Industry

Stakeholders

  • Private sector
    Privately owned commercial (for-profit) entities of all sizes, including SMEs
  • Public sector
    National and sub-national, local government entities, agencies from all branches (policy-making, executive, adjudication)

Type

Linked resources

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