'1. Chairman, State Bank of lndia
2. Chairman, Life lnsurance Corporation of lndia
3. MD & CEOS of all Public Sector Bank
4. CMDs in all Public Sector Financial lnstitutions
5. CMDs of all non-life Public Sector lnsurance Companies
6. CVOs of all Public Sector Banks/Financial Institutions/lnsurance Companies
Sub: Advisory Board for Banking and Financial Frauds (ABBFF) - Extension of Scope - Rs. 3 crores to Rs,
50 crores - reg.
I am directed to say that in order to alleviate fear of any unwarranted hardship to decisions of officials/Executives of PSBs and PSFls, Central Vigilance Commission vide Office Order No. 02/01/22 issued vide No. 005/MSC/038 dated 06.01.2022 [copy enclosed], in consultation with Reserve Bank of lndia and Department of Financial Services, has extended the scope of the existing Advisory Eoard for Banking and Financial Frauds (ABBFF) to cover all fraud cases involving amount of Rs.3 Crore and above and examine the role of all levels of officials/Whole Time Directors (including ex-officials/ex-WTDs) in Public Sector Banks and Public Sector Financial lnstitutions.
2. Henceforth, all Public Sector Banks, Public Sector Financial lnstitutions and Public Sector lnsurance Companies life insurance/non-life insurancel shall now scrupulously adhere to the following instructions in case of the matters cited in the subject above:
Cases to be referred to ABBFF:
(a) The ABBFF will exomine all coses of totol omount involving Rs.3.00 Crore ond up to Rs.50.00 Crore obo, which ore clossified os Fraud ond reported to RBI by PSBS ond in cose of PSFls, fraud declored, on or ofter 06.01.2022.
(b) The coses of totol omount involving Rs.3.00 Crore and up to Rs.50.00 Crore, which ore classified os Fraud ond repofted to RBI by PSBS ond in cose of PSFls, declared os fraud prior to 06.01.2022 but hove reoched the Disciplinory Authority through IAC ond CVO on ot ofter 06.01.2022, shall also be referred to ABBFF.
(c) The coses of totol omount involving Rs. 3.00 Ctore and up to Rs. 50.00 Crore, where FMR b filed by PSBs or declored os froud by PSFIs prior to 06.01.2022 but crimhol comploint is yet to be filed with the investigating ogencies, are olso to be repofted to ABBFF.
Terms & Condations:
All other terms ond conditions of CVC Office Order No. 14/08/21 doted 19.08.2021 shotl remoin the some.
SOP for making references to ABBFF ksued vide e-moil doted 16/17.09.2021 ond oddendum vide letter 006/MSC/038/496385 doted 10.11.2021 for froud coses obove Rs.50.00 Crore sholl oko be opplicable to th fraud coses of Rs.3.00 Crore and up to Rs.50.N Crore.
3. These instructions shall be disseminated to officers/officials of all levels in the institution
4. Strict compliance of the above may be ensured.
(Lokesh Chander Trehan)
Under Secreatary (Vailance)
Email: vigilance-df @nic.in
Encl.: As above
Copy for information to: Shri Rajiv Verma, Director, Central Vigilance Commission, Satarkta Bhawan, GPO Complex, Block A, INA New Delhi I 10023.
Copy for information also to:
1. PPS to Secretary(FS)
2. PPS/PS to AS(SK), AS(AA), AS(VK) and AS(SM)
3. P5IPA to all Joint Secretaries/DDc/EAs, DFS
4. All Directors/Deputy Secretaries, DFS
5. All Under Secretaries, DFS
6. All other officers and staff through intranet