Issues on Finance : Suspected large bank fraud cases to be examined by the panel prior to the investigation By Runal Sen. Dated 8th February 2020 All major alleged bank fraud cases will need a panel analysis before lenders agencies such as the Central Investigation Bureau (CBI) take action. The system has been designed to allow bankers to take decisions without thinking about credit flows and release them, a top government official told ET. The Central Vigilance Commission (CVC) has established the planning board on banks and financial frauds to find grievances against bankers in consultation with India's Federal Reserve Bank (RBI) and Niti Aayog. Former vigilanc commissioner TM Bhasin will be heading this. The five-member board will act because first level of scrutiny for all suspected cases of fraud involving Rs 50 crore or more and head or higher rank executives will operate. Within a month, the Board will select matters. This is being done to make sure ...