In April 2022, Chief Justice of India NV Ramana recommended the creation of an “independent umbrella institution”, so as to bring various agencies under one roof”. Which of the following agencies did he suggest be brought under this umbrella?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. ED, CBI and SFIO.
- In April 2022, Chief Justice NV Ramana recommended creating an “independent umbrella institution” specifically to consolidate agencies that handle economic and financial investigations.
- He proposed that the Enforcement Directorate (ED), the Central Bureau of Investigation (CBI), and the Serious Fraud Investigation Office (SFIO) be brought under one roof.
- This recommendation was aimed at improving coordination and effectiveness in probing complex financial and corporate frauds.
Why not NIA?
The National Investigation Agency (NIA) focuses primarily on terrorism and related offenses, which fall outside the economic and corporate crime spectrum that the proposed umbrella institution was intended to address.
Other options:
- SFIO and CBI: While these are key agencies for economic crimes, the recommendation also included ED due to its role in enforcing laws related to money laundering and economic offenses.
- ED and NIA: This combination omits the specialized fraud investigation capabilities of the SFIO and does not fully address the economic offenses in focus.
Thus, the recommendation was specifically to integrate ED, CBI and SFIO under a single institution for a more streamlined investigation process.