ABBFF Guidelines

Reference: BANKOFMA/202603011805591152

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Description

F. No. 14/18/2019-Vig. (Part) Government of India/ भारत सरकार Ministry of Finance/ वित्त मंत्रालय Department of Financial Services/ वित्तीय सेिा विभाग 3rd Floor, Jeevandeep Building/तीसरी मंविल, िीिनदीप विल्डंग Parliament Street, New Delhi/ पावलियामेंट स्ट्रीट, नई वदल्ली ---------------------------------------------------------------------------------------------------------------------- वदनांक/ Dated: 10th January/ िनिरी 2022 To 1. Chairman, State Bank of India 2. Chairman, Life Insurance Corporation of India 3. MD & CEOS of all Public Sector Bank 4. CMDs in all Public Sector Financial Institutions 5. CMDs of all non-life Public Sector Insurance Companies 6. CVOs of all Public Sector Banks/Financial Institutions/ Insurance Companies Sub: Advisory Board for Banking and Financial Frauds (ABBFF) - Extension of Scope - Rs. 3 crores to Rs, 50 crores - reg. Madam/Sir, I am directed to say that in order to alleviate fear of any unwarranted hardship to decisions of officials/Executives of PSBs and PSFIs, Central Vigilance Commission vide Office Order No. 02/01/22 issued vide No. 005/MSC/038 dated 06.01.2022 [copy enclosed], in consultation with Reserve Bank of India and Department of Financial Services, has extended the scope of the existing Advisory Board for Banking and Financial Frauds (ABBFF) to cover all fraud cases involving amount of Rs.3 Crore and above and examine the role of all levels of officials/Whole Time Directors (including ex- officials/ex-WTDs) in Public Sector Banks and Public Sector Financial Institutions. 2. Henceforth, all Public Sector Banks, Public Sector Financial Institutions and Public Sector Insurance Companies life insurance/non-life insurance shall now scrupulously adhere to the following instructions in case of the matters cited in the subject above: Cases to be referred to ABBFF: (a) The ABBFF will examine all cases of total amount involving Rs.3.00 Crore and up to Rs.50.00 Crore also, which ore classified as Fraud and reported to RBI by PSB

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Tender Details

• Published 01 Mar 2026
• Closing N/A