PSU Bank Limited, a public sector bank has detected a fraud being committed by one of its large corporate customers. The alleged fraud seems to have been perpetrated over a period of time, by diverting the funds received

Central Bureau of Investigation (CBI) has grown into a multidisciplinary investigation agency over a period of time. Today it has the following three divisions for investigation of crime - Anti-Corruption Division - for investigation of cases under the Prevention of Corruption Act, 1988 against Public officials and the employees of Central Government, Public Sector Undertakings, Corporations or Bodies owned or controlled by the Government of India - it is the largest division having presence almost in all the States of India. Economic Offences Division - for investigation of major financial scams and serious economic frauds, including crimes relating to Fake Indian Currency Notes, Bank Frauds and Cyber Crime. Special Crimes Division - for investigation of serious, sensational and organized crime under the Indian Penal Code and other laws on the requests of State Governments or on the orders of the Supreme Court and High Courts. The laws under which CBI can investigate Crime are notified by the Central Government under section 3 of the Delhi Special Police Establishment Act, 1946. According to Section 3, The Central Government may, by notification in the Official Gazette, specify the offences or classes of offences which are to be investigated by the Delhi Special Police Establishment. As the fraud in PSU Bank is a major financial scam. It would be investigated by the Economic Offences division of CBI.