Question

What is the primary objective and core significance of establishing the Special Committee of the Board for Monitoring and Follow-up of Cases of Frauds (SCBM

Q: Answer-What is the primary objective and core significance of establishing the Special Committee of the Boa...

The primary objective and significance of the SCBMF is to provide dedicated, board-level governance over fraud prevention. Instead of acting as an operational investigating agency, the committee ensures macro-level oversight by analyzing why frauds happen root cause analysis, evaluating the strength of internal controls, and recommending policy changes to minimize future fraud incidence.

F in banks?

A To physically conduct criminal investigations, collect field evidence, and file FIRs against fraudsters

B To oversee the overall effectiveness of the bank's fraud risk management framework, review root cause analyses, and recommend systemic control measures

C To sanction corporate loan proposals exceeding the credit approval limits of the Executive Committee

D To audit the daily cash reserve ratio (CRR) and statutory liquidity ratio (SLR) compliance

E To determine credit rating scores for retail mortgage borrowers

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