CBI nodal agency for banks to report high-value frauds
Published on August 07, 2016 20:46:33 PM
The Central Bureau of Investigation has been made the nodal authority for banks to report high-value frauds worth over ₹50 crore in public sector banks. A Joint Director-level officer has been authorised to receive complaints, who can recommend an investigation by any CBI wing. The CBI had probed 171 bank fraud cases involving funds of over ₹20,000 crore in 2015.
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