Government has announced the extension of scope of the Advisory Board for Banking and Financial Frauds (ABBFF), to cover all fraud cases above what amount?
Answer with explanationAnswer: Option A
Central Vigilance Commission (CVC) and Ministry of Finance have extended the scope of the existing Advisory Board for Banking and Financial Frauds (ABBFF) to cover all fraud cases involving an amount of Rs.3 Crore and above in Public Sector Bank and Public Sector Financial institutions. Earlier this limit was Rs 50 crore and above. The ABBFF will examine all cases of total amount involving Rs.3.00 Crore and up to Rs.50.00 Crore.