New Delhi: An advisory board has been reconstituted by the Central Vigilance Commission to assist the CBI in investigating cases related to bank, commercial and financial frauds.

Former Deputy Governor of RBI Shyamala Gopinath will be the Chairman of the board which will be based in Mumbai but can meet anywhere in the country at its convenience.
    
The six-member board will have a tenure of two years and it would form part of the organisational infrastructure of the CBI and Reserve Bank of India providing the required investigative and secretarial services along with the necessary funds.
    
"The Board's jurisdiction would be confined to those cases where, in disagreement or dispute with the Bank, Public Sector Undertakings or financial institution, the CBI desires to register a Regular Case/Preliminary Investigation in respect of an allegation of a fraud," an order said.
    
Besides, it may also advise on any other technical matter referred to it by the CBI or CVC.
    
"Considering the limiting number of such disputes arising annually, the Commission does not, at the moment, find it appropriate to specify the levels above which the reference could be made to the Board," it said.     

CBI can refer any case to the Board where it has a difference of opinion with the organisation concerned, irrespective of the level of the officers/officials involved in it.
    
"The Board plays a crucial role in assisting the CBI to probe cases of bank, commercial and financial frauds. Especially, they help in tendering advice in cases of any dispute or of differences of opinion while enquiring into the cases of alleged bunglings," a CVC official said.
    
Other members of the board include retired Indian Administrative Service officer Vivek Mehrotra, retired Indian Police Service officer Balwinder Singh, former Chairman and
Managing Director, Bank of Maharashtra, A S Bhattacharya, ex Executive Director of Corporation Bank, Asit Pal and Chartered Accountant, T N Manoharan.

(JPN/Agencies)