Advisory Board for Banking and Financial Frauds

Advisory Board for Banking and Financial Frauds, with ex-CVC Suresh N Patel designated as its chairman, reconstituted for 2 years with effect from August 21, 2025

The members of the board are Ravikant, a former secretary of the Department of Ex-Servicemen Welfare; Rajni Kant Mishra, a former director general of the Border Security Force; Alok Kumar Choudhary ex-MD of State Bank of India and Sarada Kumar Hota, former MD of National Housing Bank.

The board has been mandated to examine the role of all levels of officials and whole-time directors (including ex-officials and ex-whole-time directors) in public sector banks, public sector insurance companies and public sector financial institutions in case of frauds amounting to Rs 3 crore and above.

All public sector banks, public sector insurance companies and public sector financial institutions shall refer all matters of frauds, involving sums of money of Rs 3 crore and above to the board... for advice before initiation of criminal investigation and the competent authority shall consider the advice tendered by ABBFF regarding involvement of criminality/malafide of the officials, in all such cases.