CBI seeks deputation of banking and tax experts to probe financial frauds, including the PNB scam

CBI which is probing the over Rs 13,000 crore PNB scam as well as other financial frauds, has sought deputation of banking and tax experts from other ministries with an offer of good monetary incentives

Press Trust of India July 08, 2018 16:48:27 IST
CBI seeks deputation of banking and tax experts to probe financial frauds, including the PNB scam

New Delhi: The Central Bureau of Investigation (CBI), which is probing the over Rs 13,000 crore Punjab National Bank (PNB) scam as well as other financial frauds, has sought deputation of banking and tax experts from other ministries with an offer of good monetary incentives.

According to an official communique sent by the CBI to the finance and other key ministries, the agency has asked for officers on deputation as advisor (banking), senior advisor (foreign trade or foreign exchange), deputy advisor (foreign trade or foreign exchange) and senior advisor (taxation) on deputation.

"Those selected will initially be given short-term contract with the premier investigation agency," it said.

CBI seeks deputation of banking and tax experts to probe financial frauds including the PNB scam

Representational Image. AFP

The letter routed to various ministries said that these posts are to provide technical assistance and expertise in probing cases involving banking, foreign trade and foreign exchange, taxation and to supervise the work of other technical officer working in the agency.

“It may be noted that the officers coming on deputation to CBI are entitled to a special security allowance at the rate of 20 percent on the pay,” it said.

The communique, however, said the candidates who apply for the post will not be allowed to withdraw their candidature subsequently.

The CBI is looking into various big-ticket fraud cases in banks besides other complex cases related to foreign trade and taxation.

Among the prominent ones is the over Rs 13,000-crore fraud in the PNB allegedly committed by jeweller Nirav Modi and his uncle Mehul Choksi, the promoter of Gitanjali Gems.

The CBI had some time back also booked top officials of two public sector banks, a former CMD of the IDBI Bank, former Aircel promoter C Sivasankaran, his son and companies controlled by him in connection with a Rs 600-crore loan fraud in the IDBI.

The CBI had on Friday arrested two senior retired officers of the Bank of India in connection with alleged loan fraud of Rs 2,654 crore by Vadodara-based Diamond Power Infrastructure Ltd. (DPIL) in the bank.

Some former top RBI officials are also under the scanner of the CBI for alleged financial frauds. The induction of financial expert in the agency will help in expediting probe in financial crime cases, they said.

During 2017, the CBI had registered 939 regular cases and 137 preliminary enquiries.

As many as 9,383 cases were pending in various courts at the end of the year.

Updated Date:

Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply

also read

Finance ministry allows all private sector banks to participate in government-related businesses
Business

Finance ministry allows all private sector banks to participate in government-related businesses

This step is expected to further enhance customer convenience, spur competition and raise efficiency in customer services, a ministry statement said

Sensex sets record high, but ends in negative; Nifty too ends flat in volatile session
Business

Sensex sets record high, but ends in negative; Nifty too ends flat in volatile session

The gains in the early morning trade in BSE Sensex was driven by gains in index majors HDFC twins, Kotak Bank and Reliance Industries amid a positive trend in global markets

Indian economy on track for recovery in next fiscal but banking sector to show improvement by 2023, says S&P
Business

Indian economy on track for recovery in next fiscal but banking sector to show improvement by 2023, says S&P

S&P Global Ratings said India faces a permanent loss of output versus its pre-pandemic path, suggesting a long-term production deficit equivalent to about 10 percent of GDP