Public sector banks reported frauds of over Rs 95,700 cr in first six months of the current fiscal
Government-owned banks reported frauds of over Rs 95,700 crore in the first six months of the current fiscal, the Parliament was informed on Tuesday
According to RBI, frauds as reported by PSBs, during April-September, 2019 is 5,743 involving a total amount of Rs 95,760.49 crore, Finance Minister Nirmala Sitharaman said in the Rajya Sabha
In the written reply, the minister further said that comprehensive measures have been taken to curb the incidence of frauds in banks, including freezing bank accounts of 3.38 lakh inoperative companies
New Delhi: Government-owned banks reported frauds of over Rs 95,700 crore in the first six months of the current fiscal, the Parliament was informed on Tuesday.
"According to Reserve Bank of India (RBI), frauds as per year of reporting, as reported by Public Sector Banks (PSBs), during the period from 1 April, 2019 to 30 September, 2019 is 5,743 involving a total amount of Rs 95,760.49 crore," Finance Minister Nirmala Sitharaman said in the Rajya Sabha.
In the written reply, the minister further said that comprehensive measures have been taken to curb the incidence of frauds in banks, including freezing bank accounts of 3.38 lakh inoperative companies.
Meanwhile, in reply to another question, Minister of State for Finance Anurag Thakur said with the increase in the limit of withdrawal to Rs 50,000 for customers of Punjab and Maharashtra Cooperative (PMC) Bank, 78 percent of depositors of the bank will be able to withdraw their entire account balance.
As on 23 September, 2019 (date of imposition of RBI directions), total depositors of PMC Bank were 9,15,775 .
The statutory inspection of the bank with reference to its position as on March 2019 conducted by RBI revealed large group exposure toward Housing Development and Infrastructure Limited (HDIL) Group companies to the tune of about Rs 6,226.01 crore.
Out of the total exposure of Rs 6,226.01 crore as on 31 March, 2019 to the HDIL group, only Rs 439.58 crore was disclosed to RBI and remaining Rs 5,786.43 crore remained undisclosed, he said.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
Donald Trump reiterates claim of victory in US election as transition to Joe Biden administration begins
The event in Pennsylvania on Wednesday was the latest attempt by the US president to try to cast doubts on the election results and investigate unproven allegations of voter fraud
Pvt hospitals charged high fees, sustainable pricing could've averted many COVID-19 deaths, finds parliamentary panel
Underlining that healthcare spending in the country is 'abysmally low', the panel said the fragility of the Indian health ecosystem posed a big hurdle in generating an effective response against COVID-19 pandemic
The ex-Bihar deputy chief minister's election to the Upper House of the Parliament is all but certain as the BJP-led NDA has a majority in the state Assembly