Bank frauds exceeding Rs 3 crore to need panel nod for CBI probe

All bank fraud cases of over Rs 3 crore now need to be referred to an expert panel to decide if it warrants an investigation by the Central Bureau of Investigation (CBI). This Central Vigilance Commission (CVC) amendment now takes precedence over the earlier rule which said only fraud cases that were over Rs 50 crore in public sector banks need to be referred to such a panel.​

from Banking/Finance-Industry-Economic Times https://ift.tt/3r4JBg9