Budget 2021: Super agency to probe financial sector frauds on cards

Move, proposed by CII in Budget wish list, could enhance ease of doing biz

The government could soon set up an omnibus agency to investigate financial sector frauds. If it comes through, the proposal, which is now shuttling between the finance and home ministries, is likely to land on the latter’s plate. 

The government is expected to tout the move as a means to facilitate ease of doing business in the country. Having to deal with just one agency would be much more convenient for businesses if they are called upon to appear in a case. At present, they have to run between multiple agencies. 

The proposal has come from the Confederation of Indian Industries (CII)