Parliament Watch: Govt scraps CIBIL score rule, clears port and steel policy changes

The government has scrapped the CIBIL score requirement for PSU bank recruitment, set a 2030 deadline for the first phase of Maharashtra’s Vadhvan Port, and eased input material rules for foreign steel makers. Ministers shared these updates in Parliament on Tuesday, outlining changes in banking, shipping, and steel sectors.

Govt scraps CIBIL score rule for PSU bank recruitment
The requirement of a minimum CIBIL score of 650 to apply for recruitment in public sector banks has been scrapped, Minister of State for Finance Pankaj Chaudhary informed. Candidates can now apply without a credit score condition, but they must maintain a healthy credit history at the time of joining. The minimum credit score will be determined as per the individual policies of participating banks, Chaudhary said.

Vadhvan port’s first phase to be ready by 2030, says Sonowal
The first phase of the upcoming deep-sea port at Vadhvan in Maharashtra is expected to be completed by 2030, Union Ports, Shipping and Waterways Minister Sarbananda Sonowal told the Rajya Sabha on Tuesday. Expansion of Major Ports is a continuous process involving modernization, mechanization, new berths, dredging, and enhanced connectivity, he said. Vadhvan will handle 23.2 million TEUs annually at an estimated cost of `76,220 crore. Sonowal added that the International Container Transshipment Port at Galathea Bay in Great Nicobar has been notified as a new Major Port. Planned as a transshipment hub, it will handle 16 million TEUs annually and be developed in four phases at a cost of Rs 43,796 crore.

Govt eases input material norms for foreign steel makers
Foreign manufacturers supplying steel to India have been exempted from the requirement that their input material also comply with Quality Control Orders (QCOs), provided their licences are verified by the Bureau of Indian Standards (BIS) and declarations submitted to the steel ministry, Minister of State for Steel Bhupathiraju Srinivasa Varma told the Lok Sabha on Tuesday. Last week, the government issued an order exempting 202 BIS licences listed on the Steel Import Monitoring System (SIMS) portal from the input-material compliance clause. The move aims to ensure uninterrupted steel supplies from foreign manufacturers. The exemption followed consultations with industry stakeholders to assess how QCOs could be implemented with minimal disruption, the minister said.