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Govt tells banks to flag adverse info on top executivesIndia's finance ministry is setting a new standard for accountability by instructing state-run banks to swiftly communicate any troubling d...- Govt weighs special courts to fast-track bank fraud casesThe government is considering establishing special courts to expedite the resolution of bank fraud cases, with discussions underway between...
- Banks ready list of 3,000 entities involved in fraudulent practices"The issue was discussed at a meeting (last month) with the Advisory Board for Banking and Financial Frauds (ABBFF), and it was decided tha...
- Ex-CVC Suresh N Patel to head advisory board to examine role of top bank officials in fraudsFormer Central Vigilance Commissioner (CVC) Suresh N Patel has been appointed the chairman of an advisory board to examine the role of top ...
- Banking laws recast likely to protect bankers from LokpalIndia is eyeing a significant revamp of the banking laws that includes ring-fencing bankers from the Lokpal Act, stock options for state-ow...
- Banks want a say before Lokpal refers staff cases to agenciesBanks have reached out to the government demanding that the Lokpal should consult lenders before referring vigilance cases against employee...
- CVC-constituted panel ABBFF gives advice on 84 bank fraud casesHeaded by former Vigilance Commissioner T M Bhasin, ABBFF was set up in August 2019, by CVC in consultation with Reserve Bank of India (RBI...
- Indian Banks' Association upbeat on July rollout of Digital Banking UnitsAll public sector banks, 10 private sector banks and one small finance bank have already initiated the work to have these units operational...
- State-run banks voice concern over new guidelines on frauds"It is leading to a situation where every complaint, till it's resolved, is under scrutiny and those implicated cannot take any other decis...
- Ensure advisory board's recommendations are taken in fraud cases of over Rs 3 crore, CVC tells banksThe CVC had on January 6 expanded the ambit of the Advisory Board for Banking and Financial Frauds (ABBFF), which conducts first level exam...
- Protect bankers from arbitrary witch-huntA change in the banks' holding structure giving them functional autonomy, accompanied by accountability, is a reform overdue.
- Bank frauds exceeding Rs 3 crore to need panel nod for CBI probeAll 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...
- CVC expands ambit of advisory board on large scale bank fraudsAt present, the Advisory Board for Banking and Financial Frauds (ABBFF) conducts initial examination in all large fraud cases (of above Rs ...
- CVC expands scope of banking frauds panel to cases above Rs 3 crThe Central Vigilance Commission (CVC) on Thursday expanded the scope of the Advisory Board for Banking and Financial Frauds (ABBFF), which...
- Various measures taken to protect bona fide commercial decision of banks: FM Nirmala SitharamanThe government, in consultation with Central Vigilance Commission, has recently finalised a consolidated Staff Accountability Framework for...
- SBI MD Arijit Basu bats for greater oversight on banks, sans overreach by probe agenciesWith a view to protect prudent decision making of bankers, the government last month took a slew of decisions, including doing away with pe...
- Bank panels to monitor probe progressFinance minister Nirmala Sitharaman sent a strong message to banks to lend without fear of the ‘three Cs’ at a meeting last month. The ‘thr...
- Government directs banks to address pending disciplinary casesThe government has directed banks to set up panels to monitor progress of pending internal vigilance cases.
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