Bank frauds of over Rs 3cr will need panel nod for CBI probe


The Central Vigilance Commission (CVC) has amended rules to mandate that all bank fraud cases of over Rs 3 crore will be referred to an expert panel to decide if an investigation by the Central Bureau of Investigation (CBI) is warranted in what is seen as a fresh attempt to comfort bankers. Earlier, only fraud cases of over Rs 50 crore in public sector banks were referred to this panel.