JOIN USThe Central Bureau of Investigation (CBI) has asked for increased powers while investigating cases of big-ticket financial frauds, which are currently referred to the agency by the government or courts.
The CBI is understood to have made a pitch to become the nodal agency for such cases, but a decision on the issue would be taken only after inter-ministerial discussions.
CBI officials felt that it is difficult for them to gather material for investigation and conduct raids in financial fraud cases.
The agency wants the government to specify the kind of financial crimes it would be investigating and make changes in the Delhi Special Police Establishment (DSPE) Act accordingly. Once an amendment is made in the DSPE Act, the CBI would be able to take up cases directly.
Officials said such powers would help the CBI speed up investigations in cases and resolve bottlenecks in coordination issues. The agency had recently faced hurdles in its investigations into loan default cases after the Finance Ministry referred the matter to it.