CVC Reconstitutes Advisory Board to Check Fraud

The Central Vigilance Commission (CVC) has reconstituted an advisory board to help the CBI in searching cases related to bank, commercial and financial frauds. The advisory board will have six members who would form a part of the organisational infrastructure of the CBI and Reserve Bank of India (RBI). The board will provide the required investigative secretarial services along with the funds and have tenure of two years.

The disagreement or disputes cases with the bank, public undertakings and financial institutions are undertaken by the board. CBI said that it desires to register regular cases or preliminary investigation with respect to the allegation of the fraud. The board may also advise on any other technical matter referred to it by the CBI or CVC.

The CBI can refer any case to the advisory board where if it has any difference of opinion with the organisation concerned, irrespective of the level of the officers/officials involved in it.

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