RESERVE BANK OF INDIA DIRECTIONS TO COMPLAINTS WITH CBI IN CASE OF FRAUDS BY BANKS,FINANCIAL INSTITUTIONS

RESERVE BANK OF INDIA DIRECTIONS TO COMPLAINTS WITH CBI IN CASE OF FRAUDS BY BANKS,FINANCIAL INSTITUTIONS

Lodging of complaints with CBI in cases of fraud /embezzlement by commercial banks and select Financial Institutions 

Reserve Bank of India (RBI) Master Directions dated 01.07.2016 on Frauds-Classification and Reporting by commercial banks and select Financial Institutions, inter alia, provide as follows, in regard to lodging of complaints with CBI in cases of fraud /embezzlement:- 

Category of bank	Amount involved in the frauds	Agency to whom complaint should be lodged	Remarks
Public Sector Banks (PSBs)	Rs. 3 crore and above and uptoRs. 25 crore	CBI	To be lodged with Anti Corruption Branch of CBI where staff involvement is prima facie evident). Economic Offences Wing of CBI (wherestaff involvement is prima facie not evident)
PSBs	More than Rs. 25 crore and uptoRs. 50 crore	CBI	To be lodged with Banking Security and Fraud Cell (BSFC) of CBI (irrespective of the involvement of a public servant)
PSBs	More than Rs. 50 crore	CBI	To be lodged with the Joint Director (Policy), CBI, HQ, New Delhi.

 This was stated by Shri Santosh Kumar Gangwar, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.

Source:PIBNEWS