UPSC Current – CBI conducts searches in bank fraud case

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CBI conducts searches in bank fraud case

Why in News?

  • The Central Bureau of Investigation has conducted searches in connection with a case against three former senior officials of Syndicate Bank and others for allegedly causing a loss of over ₹12 crore to the exchequer.

What is CBI?

  • Central Bureau of Investigation (CBI) is the premier investigating police agency in India.
  • It functions under the superintendence of the Deptt. of Personnel, Ministry of Personnel, Pension & Public Grievances, Government of India – which falls under the prime minister’s office.
  • However, for investigations of offences under the Prevention of Corruption Act, its superintendence vests with the Central Vigilance Commission.
  • It is also the nodal police agency in India which coordinates investigation on behalf of Interpol Member countries.
  • Its conviction rate is as high as 65 to 70% and it is comparable to the best investigation agencies in the world.

 




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