Bank Frauds

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Bank Frauds - Total results - 23
Banks, select financial institutions report frauds involving Rs 1.13 lakh crore in April-September 2019: Nirmala Sitharaman
Business

Banks, select financial institutions report frauds involving Rs 1.13 lakh crore in April-September 2019: Nirmala Sitharaman

Frauds involving Rs 1,13,374 crore were reported by banks and select financial institutions in the first half of the current financial year, Finance Minister Nirmala Sitharaman told Parliament on Monday

Total fraud at banks soars 74% to Rs 71,543 cr in 2018-19, says RBI; PSBs account for bulk of cases
Business

Total fraud at banks soars 74% to Rs 71,543 cr in 2018-19, says RBI; PSBs account for bulk of cases

The number of fraud cases reported by lenders also jumped to 6,801 in 2018-19, compared to 5,916 cases in 2017-18

Public sector banks reported frauds of over Rs 95,700 cr in first six months of the current fiscal
Business

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

CBI registers 35 fraud cases in public sector banks involving funds of over Rs 7,000 cr, searches 169 places
Business

CBI registers 35 fraud cases in public sector banks involving funds of over Rs 7,000 cr, searches 169 places

The CBI is conducting searches in 169 locations across the country in connection with 35 bank fraud cases, which were registered by it and involve funds of over Rs 7,000 crore, officials said on Tuesday

RBI annual report: Bank fraud touches Rs 71,543 cr in 2018-19, records 74% jump from previous year
Business

RBI annual report: Bank fraud touches Rs 71,543 cr in 2018-19, records 74% jump from previous year

The number of cases of frauds reported by banks saw a jump of 15 percent year-on-year basis in 2018-19, with the amount involved increasing by 73.8 percent in the year, RBI's annual report showed

Central Vigilance Commission sets up panel to examine bank fraud over Rs 50 cr, to be headed by former CVC head TM Bhasin
Business

Central Vigilance Commission sets up panel to examine bank fraud over Rs 50 cr, to be headed by former CVC head TM Bhasin

The four-member board's jurisdiction would be confined to those cases involving the level of officers of General Manager and above in the PSB

Gujarat govt cancels Dahej port contract given to absconding Sandesara brothers of Sterling group
Business

Gujarat govt cancels Dahej port contract given to absconding Sandesara brothers of Sterling group

The absconding promoters of the Sterling group—Nitin and Chetan Sandesara—are alleged to have defrauded over Rs 14,500 crore of public money

Over Rs 2.05 lakh cr bank frauds in 11 years; ICICI Bank, SBI and HDFC Bank report maximum cases
Business

Over Rs 2.05 lakh cr bank frauds in 11 years; ICICI Bank, SBI and HDFC Bank report maximum cases

Of over 50,000 frauds that hit banks in India in the last 11 fiscal years, the ICICI Bank, State Bank of India (SBI) and HDFC Bank reported highest number of cases, according to an RBI data

SBI found fraud worth Rs 7,951.3 crore involving 1,885 cases in April-December: RTI reply
Business

SBI found fraud worth Rs 7,951.3 crore involving 1,885 cases in April-December: RTI reply

In an RTI reply, SBI said, the first quarter reported 669 cases of fraudulent activities amounting to Rs 723.06 crore, the second quarter saw 660 cases involving an Rs 4,832.42 crore

Bank fraud: RBI could take punitive action against erring auditors
Business

Bank fraud: RBI could take punitive action against erring auditors

As more and more loan-related scams come to light in many public and private sector banks leading to a massive pile-up of bad loans, the Reserve Bank of India (RBI) on Friday decided to take auditors to task by warning them of stern punitive actions against them

Public sector banks account for 85% of over 6,500 bank fraud cases: RBI
Business

Public sector banks account for 85% of over 6,500 bank fraud cases: RBI

Financial Stability Report, according to a Economic Times report. The top 10 banking frauds in 2018 lead to a financial loss of Rs 10,000 crore

Vijay Mallya discloses letter written to Narendra Modi in 2016: 'Fall of Kingfisher Airlines caused by circumstances'
Business

Vijay Mallya discloses letter written to Narendra Modi in 2016: 'Fall of Kingfisher Airlines caused by circumstances'

Mallya said he has been accused by politicians and the media alike of having stolen and run away with Rs 9,000 crore that was loaned to Kingfisher Airlines

Vijay Mallya says he is willing to settle with PSBs; UK court likely to deliver verdict on extradition plea on 31 July
Business

Vijay Mallya says he is willing to settle with PSBs; UK court likely to deliver verdict on extradition plea on 31 July

Mallya said that he has become "a poster boy of bank default and a lightning rod of public anger" and feels that the “time has come” to state factual position in reply to controversy

Punjab National Bank fraud: Interpol likely to issue red corner notice against fugitive diamantaire Nirav Modi soon
Business

Punjab National Bank fraud: Interpol likely to issue red corner notice against fugitive diamantaire Nirav Modi soon

Nirav Modi managed to travel across several countries even after information about his passport being revoked by Indian govt was flashed in Interpol central database

Public money is 'extremely safe' in PSBs as govt fully backs state-owned banks: Piyush Goyal
Business

Public money is 'extremely safe' in PSBs as govt fully backs state-owned banks: Piyush Goyal

Speaking to reporters after meeting heads of PSBs, Goyal said govt is open to the question of giving more powers to RBI for effectively regulating PSBs

RBI union writes to Governor Urjit Patel, says central bank must act as alert inspector, not just off-site surveyor
Business

RBI union writes to Governor Urjit Patel, says central bank must act as alert inspector, not just off-site surveyor

Reserve Bank union requested Governor Urjit Patel to monitor banks through a combination of risk-based supervision and on-site inspections of operational systems

RBI Governor Urjit Patel appears before parliamentary panel, assures to take steps to strengthen banking system
Business

RBI Governor Urjit Patel appears before parliamentary panel, assures to take steps to strengthen banking system

RBI Governor Urjit Patel on Tuesday faced tough questions from a parliamentary panel on bad loans, bank frauds, cash crunch and other issues even as he assured the members that steps were being taken to strengthen the system

Indian Banks' Association to brief parliamentary panel on NPAs, bank frauds tomorrow
Business

Indian Banks' Association to brief parliamentary panel on NPAs, bank frauds tomorrow

Top officials of both public and private banks will on Monday brief a parliamentary panel on the issue of mounting Non-Performing Assets (NPAs)

Frauds cost Rs 18,170 cr in 12,553 cases to banking sector in FY17: Advisory firm report
Business

Frauds cost Rs 18,170 cr in 12,553 cases to banking sector in FY17: Advisory firm report

In terms of the quantum, Punjab National Bank (PNB) had reported the highest amount of frauds at Rs 2,810 crore in the last financial year, followed by Bank of India at Rs 2,770 crore, State Bank of India at Rs 2,420 crore and Bank of Maharashtra at Rs 2,041 crore

PNB scam: Ready to be 'Neelakantha', drink poison to clean system, says RBI governor Urjit Patel
Business

PNB scam: Ready to be 'Neelakantha', drink poison to clean system, says RBI governor Urjit Patel

Expressing deep anguish over a spate of banking frauds, RBI Governor Urjit Patel said today that like the 'Neelakantha', the central bank will consume poison and face brickbats, but will persist with endeavour to become better with each trial