Bhattacharya and banking frauds
KANCHAN CHAUDHARY BHATTACHARYA
- She died on 25th of August, 2019 and this has been confirmed by Director General of Police Law and Order Ashok Kumar.
- Bhattacharya was a 1973-batch IPS officer and regarded as one of the finest police officers of the country.
- She held the coveted distinctions of being the second woman IPS officer (1973) after Kiran Bedi.
- She became the first woman Director General of Police (DGP) of Uttarakhand State in 2004 and retired on October 31, 2007.
- She was the first woman IPS officer in Uttar Pradesh and was appointed as the first woman Deputy General Inspector of Police in Bareilly, Uttar Pradesh.
- After her retirement, she tried her hand in politics and contested the 2014 General Elections from Haridwar seat on the Aam Aadmi Party ticket.
ADVISORY BOARD FOR BANKING FRAUDS
What’s in news?
The Central Vigilance Commission (CVC) has constituted an Advisory Board for Banking Frauds (ABBF) headed by former Vigilance Commissioner T.M. Bhasin to examine bank fraud of over ₹50 crore and recommend action.
- Previously the board was known as the Advisory Board on Bank, Commercial and Financial Frauds.
- The ABBF, would function as the first level of examination of all large fraud cases before recommendations or references are made to the investigative agencies by the respective public sector banks (PSBs).
- Besides the chairman, the Board consists of three other members.
- The tenure of the Chairman and members would be for a period of two years from 21st August, 2019.
- The board’s jurisdiction would be confined to those cases involving the level of officers of General Manager and above in the Public Sector Banks in respect of an allegation of fraud in a borrowal account.
- It would function as the first level of examination of all large fraud cases before recommendations or references are made to the investigative agencies by the respective public sector banks (PSBs).
- Lenders would refer all large fraud cases above ₹50 crore to the board and on receipt of its recommendation or advice, the bank concerned would take further action in such matter.
- The Central Bureau of Investigation may also refer any case or matter to the board where it has any issue or difficulty or in technical matters with the PSB concerned.
- It would also periodically carry out frauds analysis in the financial system and give inputs for policy formulation related to the fraud to the RBI.
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