{"id":257180,"date":"2023-08-24T20:52:05","date_gmt":"2023-08-24T15:22:05","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=257180"},"modified":"2023-08-24T20:52:05","modified_gmt":"2023-08-24T15:22:05","slug":"central-vigilance-commission-reconstitutes-advisory-board-on-bank-frauds","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/central-vigilance-commission-reconstitutes-advisory-board-on-bank-frauds\/","title":{"rendered":"Central Vigilance Commission reconstitutes advisory board on bank frauds"},"content":{"rendered":"\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">The post is based on the article<\/span><b> \u201cCentral Vigilance Commission reconstitutes advisory board on bank frauds\u201d\u00a0 <\/b><span style=\"font-weight: 400;\">published in<\/span><b> The Hindu Business Line on 21st August 2023.<\/b><\/p>\n<h2><b>What is the News?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Central Vigilance Commission(CVC) has reconstituted the advisory board on Banking and Financial Frauds (ABBFF)<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><b>What is the Advisory<\/b><b> board on Banking and Financial Frauds(ABBFF)<\/b><b>?<\/b><\/h2>\n<p><b>Constituted by: <\/b><span style=\"font-weight: 400;\">Central Vigilance Commission(CVC)<\/span><\/p>\n<p><b>Purpose: <\/b><span style=\"font-weight: 400;\">To conduct the first level examination of bank frauds before recommendations or references are made to investigative agencies such as the Central Bureau of Investigation (CBI).<\/span><\/p>\n<p><b>Composition:<\/b><span style=\"font-weight: 400;\"> It consists of the Chairman and four other members and the tenure of the Chairman\/ Members would be for two years.<\/span><\/p>\n<p><b>Functions of the board: <\/b><span style=\"font-weight: 400;\">To examine the role of officials\/ wholetime directors (including ex-officials\/ ex-wholetime directors) in public sector banks, public sector insurance companies; and public sector financial institutions in case of frauds amounting to \u20b9 3 crore and above.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 To periodically carry out frauds analysis in the financial system and give inputs, if any, for policy formulation related to the frauds, to RBI and CVC.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 CVC or CBI may also refer any case\/technical matter to the ABBFF for its advice.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 To <\/span><span style=\"font-weight: 400;\">provide advice within a month of receiving initial references from the Ministry, Department, CVC, or investigative agencies.<\/span><\/p>\n<p><b>Headquarters: <\/b><span style=\"font-weight: 400;\">New Delhi<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article \u201cCentral Vigilance Commission reconstitutes advisory board on bank frauds\u201d\u00a0 published in The Hindu Business Line on 21st August 2023. What is the News? The Central Vigilance Commission(CVC) has reconstituted the advisory board on Banking and Financial Frauds (ABBFF). What is the Advisory board on Banking and Financial&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/central-vigilance-commission-reconstitutes-advisory-board-on-bank-frauds\/\">Continue reading <span class=\"screen-reader-text\">Central Vigilance Commission reconstitutes advisory board on bank frauds<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,1760,9],"tags":[11857],"class_list":["post-257180","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-polity-and-nation","category-public","tag-hindu-business-l","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/257180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=257180"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/257180\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=257180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=257180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=257180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}