Reporting of fraud cases to police/State CIDs/Economic Offences Wing of State police by public sector banks – CVC instructions
The CVC directs that
(i) cases of financial frauds of the value of Rs. 1,00,000 and above, which involve outsiders (private parties) & bank staff, should be reported by the Regional Head of the bank concerned to a senior officer of the State CID/Economic Offences Wing of the State concerned.
(ii) For cases of financial frauds below the value of Rs.1,00,000, but above Rs. 10,000, the cases should be reported to the local police station by the bank branch concerned.
(iii) All fraud cases of value below Rs. 10,000, involving bank officials, should be referred to the Regional Head of the bank, who would scrutinize each case and then direct the bank branch concerned on whether it should be reported to the local police station for further legal action.
CV No.007/VGL/050 Dated : January 3, 2008
Today we bring you another interesting capsule of the budget through an interesting powerpoint prepared by Bimal Jain – Click Here for the presentation.