CVC setups Advisory Board for Banking Frauds (ABBF); Head- TM Bhasin

Central Vigilance Commission (CVC), in consultation with the Reserve Bank of India, has reconstituted the Advisory Board on Bank, Commercial and Financial Frauds as ABBF. The four-membered board, ABBF will be headed by TM Bhasin, former CMD of Indian Bank.
State-run banks will need to report all cases of large frauds to ABBF set up by the Central Vigilance Commission (CVC). ABBF will examine bank fraud over Rs 50 crore and recommend action.
Individual PSBs would refer all large fraud cases above Rs 50 crore to the board.

Points to remember:

1. Who is the head of Advisory Board for Banking Frauds (ABBF)?

2. Individual PSBs would refer all large fraud cases above ____ to ABBF?- Rs 50 crore