<span style="color: #222222;">The Central Vigilance Commission (CVC) has constituted Advisory Board for Banking Frauds (ABBF) to examine bank fraud of over 50 crore rupees and recommend action. The panel in its previous avatar called the Advisory Board on Bank, Commercial and Financial Frauds.<br />''</span><br />'' <span style="color: #222222;">The ABBF headed by former Vigilance Commissioner T M Bhasin has been  formed in consultation with the RBI and it will  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. <br />''</span><br />'' <span style="color: #222222;">In its order,  the CVC said  the four-member board's jurisdiction will be confined to those cases involving officers of General Manager level and above in the PSBs in respect of an allegation of a fraud in a borrowal account. The banks will refer all large fraud cases above 50 crore rupees to  ABBF and on receipt of its recommendation, they concerned will take further action in such matter. </span><br />