27(Advisory Board on Bank Frauds) Flashcards
1
Q
What is the board all about
A
It is a board constituted by CVC+RBI to look into frauds in banks. (Be careful !!)
2
Q
It is based on which committee recomendations
A
Y M Malegam committee for NPA and Frauds
3
Q
Are fraud and NPA both same
A
No
Fraud=Criminal act
NPA=Not paying the loan for min of 90 days
4
Q
Are all fraud cases taken by the board
A
No only large cases.
large=50cr worth or involvement of General Manager
5
Q
Can it have its own investigation wing
A
No…but can take help of CBI
