The Central Economic Intelligence Bureau is the nodal agency on economic intelligence. It was set up for coordinating and strengthening the economic intelligence and enforcement activities under the Ministry of Finance.
Functions:
- The Secretariat for the Economic Intelligence Council (EIC)
- Coordinates between various Law Enforcement Agencies (LEAs)
- Administers the COFEPOSA Act 1974 at Central Government Level.
- Maintains databases on economic offenders and offences;
- Studies and analyses macro level economic activities;
- Supervises and monitors the functioning of Regional Economic Intelligence Councils (REICs), which are coordinating bodies at the field level and comprise representatives from various Central and State enforcement and investigative agencies dealing with economic offences;
- Organizes training programmes in premier training institutions for officers of the Department of Revenue/ Member agencies of REICs.
- Ensure prompt dissemination of intelligence having security implications among the NSCS, MHA & Cabinet Secretariat;
- Organizes meetings of Working Group under the Chairmanship of Revenue Secretary at prescribed intervals and submit a report to the Chairman of the EIC after every meeting;
- Acts as a ‘think tank’ for the Department of Revenue, Ministry of Finance on all issues related to economic offences
- Vetting applications under Global Entry Program (GEP)
- Provides antecedents reports to the Public Sector Banks (PSBs) on the Prospective Borrowers/ Non-Performing Assets (NPAs) for the loan amount exceeding ₹50 crores, as per the mandate given by Department of Financial Services (DFS).