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4w ago

CBI, Finance Ministry and Public Banks Align to Speed Up Bank Fraud Investigations

They committed to speeding up approvals under Sections 17A and 19 of the Prevention of Corruption Act to prevent judicial dismissals of fraud cases.

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CBI and public sector banks also exchanged case-specific details and deliberated on the way forward to expedite pending bank fraud investigations. (File Photo)

Overview

  • The CBI convened a follow-up meeting in Bengaluru with DFS officials and public bank vigilance chiefs to address pending fraud investigations.
  • Participants reached consensus to maintain close collaboration and structured engagement to resolve procedural bottlenecks.
  • Agencies agreed to share relied-upon documents in a timely manner to support ongoing probes.
  • The CBI urged banks to expedite sanction requests under Sections 17A and 19 of the Prevention of Corruption Act to prevent trial delays.
  • The federal agency is probing hundreds of fraud cases worth over ₹1 lakh crore, including high-profile investigations into Nirav Modi and Vijay Mallya.