Banking Fraud

Indian bank frauds up, will continue to rise; root cause not addressed, says Deloitte survey

According to the third edition of Deloitte India Banking Fraud Survey released on Sunday, about 84 percent of survey respondents pointed to a substantial rise in fraud incidents.

Bank fraud: 21 PSBs incurred losses of Rs 25,775 cr in FY 2017-18, with PNB highest at Rs 6,461 cr, says RTI response

The Reserve Bank of India (RBI) has clarified in the RTI that only those cases of fraud, involving a sum of over Rs 1 lakh, were included in the list.

Rs 824 cr Kanishk Gold fraud: CBI grills directors Bhoopesh Jain, wife Neeta; files case on SBI’s complaint

Kanishk Gold makes gold jewellery marketed under the brand 'Krizz', which were sold through distributors till 2014.

As more frauds surface, RBI issues strictures to auditors of PSBs to keep closer watch on banks

It has been reported that the companies falsify the figures on cash flow projections in order to get new loans from banks.

The great Indian banking circus: A guide on how to use the Aam Aadmi and Mr Fraud counters

The common man’s role in this saga is to pay taxes on time to help refuel banks, so that lenders don’t run out of funds to feed Mr Fraud.

Another bank fraud uncovered: Chennai jeweller accused of duping 14 banks of Rs 824 crore

In yet another fraud played on banks, a Chennai-based jeweller Kanishk Gold Pvt Ltd (KGPL) has been accused of defrauding a consortium of 14 banks led by the State Bank of India (SBI) to the tune of Rs 824.15 crore in the form of loans that have now been declared as non-performing asset (NPA).

Another banking fraud? SBI charges Chennai-based Kanishk Gold of duping 14 banks to the tune of Rs 1,000 cr: Report

Chennai-based Kanish Gold has a registered office in T Nagar in and is owned by promoters and directors Bhoopesh Kumar Jain and his wife Neeta Jain, says report

Blockchain can improve India's trade finance system but must address certain challenges: Report

Banks in India should start conducting proof of concept with blockchain technology to get a deeper understanding of its likely implication in trade and finance.

Life after PNB fraud: As the heat turns on India's bankers, a loan squeeze may hurt economy

Circa 1996, state-controlled Indian Bank faced a Rs 1,336 crore scam which after inflation-adjustment may compare well in size with the PNB fraud.

Gurmit Singh Mann named in FIR against Simbhaoli Sugars; executive chairman served as MD between 1972-2013

Gurmit Singh Mann has been the Executive Chairman of the Board of Simbhaoli Sugars Limited since 2013 and been associated with the company for 38 years in his over 46 years of experience