In a significant move to strengthen the fight against bank loan fraud, the Central Bureau of Investigation (CBI) and the Chief Vigilance Officers (CVOs) of public sector banks have decided to hold regular meetings. These meetings aim to improve cooperation and resolve any issues related to ongoing fraud cases. The decision was made during a coordination meeting held on Thursday, January 30, 2025, in Mumbai.
The meeting was attended by top officials from the CBI’s Banking Fraud Investigation Zone, the Department of Financial Services under the Finance Ministry, and CVOs from various public sector banks. During the day-long discussions, officials reviewed pending matters related to ongoing investigations and prosecutions in bank fraud cases. Several issues were resolved, and a plan was put in place to ensure smoother cooperation between the agencies involved.
A CBI spokesperson said, “Today’s meeting has established a formal platform for regular discussions between the CVOs and the CBI, as decided in the earlier meeting on December 4, 2024. This platform will now be used to carry forward our efforts in tackling bank fraud cases effectively.”
This meeting was a follow-up to a high-level discussion held on December 4, 2024, between the Department of Financial Services, the CBI, and public sector banks. The main agenda was to enhance interdepartmental cooperation and speed up investigations into bank fraud cases. Both the CBI and the banks presented detailed reports on various operational aspects, many of which were addressed during the meeting.
The move comes as part of a broader effort to combat financial fraud and ensure accountability in the banking sector. By fostering better communication and collaboration between the CBI and public sector banks, authorities hope to expedite the resolution of fraud cases and prevent such incidents in the future.
