Central Vigilance Commission set up ABBF

Current context: The Central Vigilance Commission (CVC) has constituted the Advisory Board for Banking Frauds (ABBF) on 25th August 2019.

 

• The ABBF has been formed in consultation with the RBI and is constituted to examine bank fraud of over 50 crore rupees and recommend action.
• The board will act as the first level of examination of all large bank fraud cases before any recommendation is made by the respective PSBs to the investigative agencies.
• Former Vigilance Commissioner T M Bhasin (also former CMD of Indian Bank) will be the head of ABBF, which will be a four-member board.
• The board’s jurisdiction is confined to cases of an allegation of fraud involving officers of General Manager Level and above in the PSBs.
• ABBF is the reconstituted version of the previous panel of the Advisory Board on Bank, Commercial and Financial Frauds.
• The step of constituting the ABBF is taken as per the recommendations of an RBI expert committee on NPAs and frauds headed by YM Malegam.

Question: 

Q.1 Who is the head of the Advisory Board for Banking Frauds (ABBF) constituted by the Central Vigilance Commission (CVC) to examine bank frauds?
a. YM Malegam
b. T M Bhasin
c. B.P. Kanungo
d. Mahesh Kumar Jain