Jun 3, 2011
After appointing internal vigilance to tackle and solve problems of fraud in banks, into the public sector banks. RBI on 2-6-2011 issue guidelines to private and foreign banks to appoint internal vigilance in its all the branches to minimize the cases of fraud. Reserve Bank of India issue a circular no. 554 dated 2-6-2011 regarding this announcement. Reserve Bank also said that the private banks need to report about it in 3 months from the date of circular and it must be implemented before 31 August 2011.Reserve Bank of India also issued guidelines for appointing internal vigilance in private and foreign banks which is as under.