Current context: The Central Vigilance Commission (CVC) has constituted the Advisory Board for Banking Frauds (ABBF) on 25th August 2019.
a. YM Malegam
b. T M Bhasin
c. B.P. Kanungo
d. Mahesh Kumar Jain
![Central Vigilance Commission set up ABBF Central Vigilance Commission set up ABBF](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEin1TY349BYBaDPrDRSNCWq-EkzTsby_ycilKQ0qzeQEWxhVyKj2y-GmuyismV7RiRy1aRBns8qFWZDmxpbT5UujvjCAiIp69UUozinmJoNqoMvb6spPk0lEbC-J3x_84QPyMHYU-NVe0yC/s320-rw/780423-rbi-1.jpg)
- 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