Frauds

Showing of 1 - 20 from 23 results
Frauds - Total results - 23
No unnecessary action against independent directors without strong evidence of wrongdoing: MCA
Business

No unnecessary action against independent directors without strong evidence of wrongdoing: MCA

Against the backdrop of instances of independent and non-executive directors coming under the scanner for alleged corporate misdoings, the ministry has sent out a circular to its Regional Directors, Registrars of Companies (RoCs) and official liquidators with respect to prosecution proceedings

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

Narendra Modi asks CAG to develop innovative methods to check frauds in govt departments
Business

Narendra Modi asks CAG to develop innovative methods to check frauds in govt departments

Prime Minister Narendra Modi on Thursday asked auditor CAG to develop technical tools to check fraud in government departments and play a role in making India a $5 trillion economy

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

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

RBI slaps Rs 7 cr penalty on SBI for violating NPA identification, fraud risk management norms
Business

RBI slaps Rs 7 cr penalty on SBI for violating NPA identification, fraud risk management norms

The Reserve Bank of India on Monday said it has slapped a penalty of Rs 7 crore on the country's largest bank SBI for non-compliance with norms related to NPA identification and fraud risk management, among others

Despite NBFC crisis, financial system stable; NPAs fall sharply to 9.3% in FY19, says RBI's Financial Stability Report
Business

Despite NBFC crisis, financial system stable; NPAs fall sharply to 9.3% in FY19, says RBI's Financial Stability Report

On NBFCs, the regulator warned against potential stress and pitched for tighter regulation of the NBFCs and housing finance companies

Reserve Bank of India fines HDFC Bank Rs 1 crore for not reporting frauds, violation of KYC norms
Business

Reserve Bank of India fines HDFC Bank Rs 1 crore for not reporting frauds, violation of KYC norms

Reserve Bank of India (RBI) on Tuesday fined country's largest private sector lender HDFC Bank Rs 1 crore for not reporting frauds and non-compliance with other directions

Indian banks took about Rs 70,000 crore hit owing to frauds in last three fiscals, shows RBI data
Business

Indian banks took about Rs 70,000 crore hit owing to frauds in last three fiscals, shows RBI data

The extent of loss in fraud cases reported by scheduled commercial banks (SCBs) for 2015-16, 2016-17 and 2017-18 was Rs 16,409 crore, Rs 16,652 crore and Rs 36,694 crore, respectively

Nirav Modi scams PNB: The prime minister and his govt must put an end to this ‘Gujarat model’ of financial manipulation
India

Nirav Modi scams PNB: The prime minister and his govt must put an end to this ‘Gujarat model’ of financial manipulation

Jeweller Nirav Modi joins a list of smart young Gujarati men — including Harshad Mehta, Hiten Dalal, Jatin Mehta and Ketan Parekh — who have in the last few years easily taken thousands of crores each from Indian banks

PNB fraud case raises questions about how businesses are managed and failures handled
Business

PNB fraud case raises questions about how businesses are managed and failures handled

The widespread panic, both with regards to the NPA crisis, the debate over depositor protection, and bank frauds is perhaps linked to the larger question of government credibility.

Rise in number of cases under investigation in 2016-17: Sebi's annual report
Business

Rise in number of cases under investigation in 2016-17: Sebi's annual report

The market regulator initiates investigations based on references received from sources such as its Integrated Surveillance Department, other operational departments within Sebi and external government agencies.

Sebi diktat on shell companies: Biggies Parsvnath Developers, J Kumar Infra among 331 'suspects'
Business

Sebi diktat on shell companies: Biggies Parsvnath Developers, J Kumar Infra among 331 'suspects'

West Bengal (127) accounts for the largest number of companies on the list of 331 suspected shell firms, referred by the corporate affairs ministry to Sebi.

Kingpin of fake coin racket held; counterfeit coins of Rs 5 worth Rs 8,500 seized
Business

Kingpin of fake coin racket held; counterfeit coins of Rs 5 worth Rs 8,500 seized

The gang first carved out shape of coins from metallic sheets in lathe machines and then prepared coins using heating and hydraulic machines.

Ransomware attack: 120 Gujarat govt computers affected by WannaCry virus
Business

Ransomware attack: 120 Gujarat govt computers affected by WannaCry virus

120 computers of the Gujarat State Wide Area Network (GSWAN) were infected by the WannaCry virus, but no valuable data was lost

Siemens India internal probe unearths Rs19 crore fraud of fake orders
Business

Siemens India internal probe unearths Rs19 crore fraud of fake orders

Siemens’ internal probe has unearthed a fraud that was perpetrated on the company over several years through fake purchase orders by certain employees

Ponzi scheme: Sebi to auction MPS' properties to recover investors’ money
Business

Ponzi scheme: Sebi to auction MPS' properties to recover investors’ money

Sebi will auction 14 properties of MPS Greenery Developers next month at a total reserve price of over Rs54 crore

Broker faces action by Sebi, NSE in co-location case
Business

Broker faces action by Sebi, NSE in co-location case

Sebi is also working on addressing the broader concerns that have come to fore after a probe into alleged lapses involving NSE's co-location facility.

RBI questions banks on Rs 5,262 cr loan to Kolkata-based REI Agro
Business

RBI questions banks on Rs 5,262 cr loan to Kolkata-based REI Agro

The clarifications were sought in the light of RBI's master circular on fraud, sources said, adding that there seems to be violation of its directions on fraud.