Officials said a vacancy in the six-member board has been necessitated due to the death of Radha Vinod Raju, a former IPS officer, earlier last week.
"The board plays a crucial role in assisting the CBI to probe various fraud cases. We are looking for an appropriate person to be included in it. The CVC will soon constitute the board", an official said.
62-year-old Raju had died at a private hospital in Kochi on June 21.
Raju, the then Director General of National Investigation Agency (NIA), and R Ramachandran, former Chairman and Managing Director of Andhra Bank, were last month inducted into the board on checking bank, commercial and financial frauds.
The panel was reconstituted last month after the probity watchdog found that two of the members - Balwinder Singh, IPS (retd) and A S Bhattacharya, ex-CMD of Bank of Maharashtra - were not fulfilling the terms and conditions of appointment as members.
It will be the third time this year since the board is being rejigged as the CVC had in March reconstituted it.
The board is headed by Shyamala Gopinath, former Deputy Governor of Reserve Bank of India. It has Vivek Mehrotra, retired IAS officer, Asit Pal, ex-Executive Director of Corporation Bank and T N Manoharan, Chartered Accountant as members. (MORE)