(THE NEWSMAN OF INDIA.COM)
The government has reconstituted the Advisory Board for Banking and Financial Frauds (ABBFF), an important body that examines the role of top officials of banks and financial institutions in major fraud cases. The board will function for two years, effective from August 21, 2025, with former Central Vigilance Commissioner Suresh N Patel appointed as its Chairman.

Often referred to as a “Safety Valve” for bankers, ABBFF plays a crucial role in ensuring that genuine commercial decisions taken by senior executives are not later misinterpreted as mala fide acts, while also tightening scrutiny on potential misconduct. Its recommendations provide guidance to investigating agencies before initiating criminal or disciplinary action, thereby maintaining a balance between accountability and protection for decision-makers in the financial system.

The newly reconstituted board comprises a mix of seasoned administrators, banking veterans, and security experts. The members include:

–Ravikant, former Secretary, Department of Ex-Servicemen Welfare
–Rajni Kant Mishra, former Director General, Border Security Force
–Alok Kumar Choudhary, former Managing Director, State Bank of India
– Sarada Kumar Hota, former Managing Director, National Housing Bank

With financial frauds continuing to challenge the integrity of India’s banking system, the ABBFF’s advisory role remains vital. Its recommendations not only aid vigilance authorities and law enforcement agencies but also boost confidence among bankers to take bold credit and investment decisions without undue fear of investigative overreach.

The reconstitution of the board under Patel’s leadership signals a renewed emphasis on strengthening governance, transparency, and trust in India’s financial ecosystem.