Finance Ministry’s Department of Financial Services (DFS) in a meeting with RBI, MHA and other stakeholders agreed to create platform for regular discussion between bankers and CBI to expedite investigation in bank fraud-related cases.
“Requests made by CBI are examined by bankers and honest decisions remain protected. It was also agreed that platforms will be created for regular discussion between bankers and CBI,” said the Ministry of Finance in a statement.
“Other operational issues related to filing of complaints with CBI in bank fraud cases, regular review of investigation and support required by CBI during investigation process was also discussed. It was observed that regular discussion between bankers and CBI will bring in operational efficiencies in the investigation of bank fraud cases,” said the statement further.
What happened during meeting?
The ministry in the statement said that meeting focused on expeditious and effective investigation in bank fraud cases that will have salutary deterrent effect and is likely to further catalyse resolution of stressed banking assets; and all measures were discussed for expeditious investigation in bank fraud cases.
“For facilitating this, various areas of cooperation between CBI and PSBs were discussed, with detailed presentations made by DFS and CBI to highlight the progress made in investigation of bank fraud cases and other operational issues,” said the government’s statement.
It was noted during the meeting that amendments made to Prevention of Corruption Act, 1988, to prevent investigation and prosecution of bankers for bonafide decisions has had a positive impact. According to an amendment under Section 17A of the Prevention of Corruption Act in 2018, an investigative agency can initiate a probe against bank employees only after the bank management approves it. Unlike PSU banks, private banks do not come directly under the purview of investigating agencies, yet under the law an approval from their management too is required to probe their employees.
Over the past year, agencies such as the Central Bureau of Investigation (CBI) and Vigilance Commission have complained that hundreds of cases are pending closure because bank managements are not giving them approval to probe their employees.
Nominations for ET MSME Awards are now open. The last day to apply is December 15, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award.
Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here
EBOSSOM Car Vacuum V6 Pro, Cordless Handheld Vacuum with 8000Pa Suction, Portable Vacuum for Car, 4 in 1 Mini Vacuum Cleaner Air Duster for Car, Office, Home
$26.99 (as of February 6, 2025 19:27 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Sundays Are for the Birds Sweatshirt | Cozy Unisex Pullover | Game Day Apparel | Gift for Sports Fans (Forest Green, Medium)
$28.97 (as of February 6, 2025 20:03 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Muddy Mat® Shown on TV–Super Absorbent Microfiber Dog Door Mat for Muddy Paws, Non-Slip Washable Pet Rug, Quick Dry Chenille Entryway Carpet, Machine Washable Indoor Outdoor mat–Atlantic Blue 28"x18"
$19.95 (as of February 5, 2025 19:31 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Alpha Grillers Instant Read Meat Thermometer for Cooking Grilling and Griddle Accessories Kitchen Essentials - Waterproof Backlight & Calibration, Birthday Mens Gifts Valentines Day Gifts for Him
$13.05 (as of February 6, 2025 20:03 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
