ADVISORY BOARD FOR BANKING FRAUDS (ABBF)

About: 

• The four-member board will be headed by former Vigilance Commissioner T M Bhasin. 
  
  
• It will function as the first level of examination of all large fraud cases before recommendations or references are made to the investigative agencies by the respective Public Sector Banks.  
  
  
• It’s jurisdiction will be confined to those cases involving officers of General Manager level and above in the PSBs in respect of an allegation of a fraud in a borrowal account. 
  
  
• The banks will refer all large fraud cases above 50 crore rupees to ABBF and on receipt of its recommendation, they concerned will take further action in such matter.