BANK NEWS
The Central Vigilance Commission sets up panel to probe Bank fraud.
NEW DELHI:The Central Vigilance Commission (CVC) has constituted an Advisory Board for Banking Frauds (ABBF) headed by former Vigilance Commissioner T.M. Bhasin to examine bank fraud of over ?50 crore and recommend action.
The panel in its previous avatar was called the Advisory Board on Bank, Commercial and Financial Frauds.
The ABBF, formed in consultation with the RBI, would function as the first level of examination of all large fraud cases before recommendations or references are made to the investigative agencies by the respective public sector banks (PSBs), the CVC said in an order.
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