NEW DELHI: Anti-corruption agency CVC has set up the Advisory Board for Banking Frauds, headed by former Vigilance Commissioner T M Bhasin, to examine bank frauds of over Rs 50 crore and recommend actions, in line with Finance Minister Nirmala Sitharaman’s call for protecting honest decision making.
This development will instill a sense of protection among bankers from prosecution for genuine decisions, and promote lending.
It will decide whether the case is a criminal act or a genuine commercial decision and accordingly, recommend the future course of action. (AGENCIES)
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