Lodging complaints with CBI for fraud embezzlement by banks and select Financial Institutions based on amount involved in the frauds.
Ministry of Finance
Press Release
10-March, 2017
Lodging of complaints with CBI in cases of fraud /embezzlement by commercial banks and select Financial Institutions.
Reserve Bank of India (RBI) Master Directions dated 01.07.2016 on Frauds-Classification and Reporting by commercial banks and select Financial Institutions, inter alia, provide as follows, in regard to lodging of complaints with CBI in cases of fraud /embezzlement:-
|
Category of bank |
Amount involved in the frauds | Agency to whom complaint should be lodged |
Remarks |
| Public Sector Banks (PSBs) | Rs. 3 crore and above and uptoRs. 25 crore | CBI | To be lodged with Anti Corruption Branch of CBI where staff involvement is prima facie evident).
Economic Offences Wing of CBI (wherestaff involvement is prima facie not evident) |
| PSBs | More than Rs. 25 crore and uptoRs. 50 crore | CBI | To be lodged with Banking Security and Fraud Cell (BSFC) of CBI (irrespective of the involvement of a public servant) |
| PSBs | More than Rs. 50 crore | CBI | To be lodged with the Joint Director (Policy), CBI, HQ, New Delhi. |
This was stated by Shri Santosh Kumar Gangwar, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.
*****
Date of digital signature and issuance determines the date of a notice u/s148 of the Income Tax Act - ITAT…
DGFT authorises IACCIA to issue Certificate of Origin (Non- Preferential) w.e.f. 9th January 2026 In exercise of powers conferred under…
Net profit rate may not per se experience variation commensurate to the increase of turnover. In a recent judgment, Allahabad…
Mushroom growing apparatus cannot be classified as ‘agricultural machinery’ under Customs Tariff Heading 8436. In a recent judgment, Hon'ble Supreme…
Statutory presumption attached to issuance of a cheque, being one made in discharge of a legally enforceable debt or liability,…
Merely because the authority conducting auction expects higher bid than the highest bidder is no reason to discard the highest…