The advisory comes in the backdrop of austerity being observed by the new government. It had been a usual practice for PSU banks and insurance companies to give expensive gifts during the festive season to officials as part of their PR exercise.
According to a senior state-owned bank official: “Giving gift is a normal practice. It is not only given by us but corporates in a big way.”
Taking exception to such practices, the Modi government is reportedly against freebies. It is also rumoured that a minister was pulled up by Prime Minister Narendra Modi for distributing gifts.