Bank Frauds

Thursday, Apr 18, 2024 | Last Update : 05:53 AM IST

Prime Minister Narendra Modi addresses conference on 'Creating Synergies for Seamless Credit Flow and Economic Growth', in New Delhi, Thursday, Nov. 18, 2021. (PTI Photo)

Modi to fugitive eco offenders: Return to country

He asked banks to support wealth and job creators with proactive lending while promising to stand by any loans given in right earnest

18 Nov 2021 10:57 PM

The Reserve Bank of India released its annual report on Tuesday. (File Photo)

We've good news: Crooks stole only Rs 28k crore during corona quarter

Bank frauds down from Rs 43k crore seen in the April-June quarter of 2019

26 Aug 2020 8:58 AM

The Reserve Bank of India’s contingency fund that takes care of unforeseen emergencies has depleted to Rs 1.96 lakh crore as of June 30 after it transferred Rs 52,000 crore excess payout to the government, according to its Annual Report for FY19 released on Thursday. This week, the RBI had announced the highest ever dividend transfer of Rs 1.76 lakh crore to the government.

RBI’s contingency fund falls to Rs 1.96 lakh crore

The RBI said as of June 30 it “stands as a central bank with one of the highest levels of financial resilience globally”.

30 Aug 2019 1:47 AM

Fraudsters and scamsters are commonplace across the financial vector.

Master thieves and ever susceptible Indian banks

CVC dissects modus operandi and loopholes in 47-page study of top 100 bank frauds.

22 Oct 2018 9:33 AM

CVC analyses top 100 bank frauds, shares report with RBI, ED and CBI

The analysis focused on modus operandi, amount involved, type of lending, anomalies observed and loopholes facilitating fraud concerned.

16 Oct 2018 6:28 PM

Finance Minister Arun Jaitley on Tuesday asked public sector banks to take "effective action" in cases of fraud and wilful loan defaults. (Photo: PTI)

Jaitley asks PSU banks to take effective action against frauds, defaults

Formalisation of the economy would help India achieve sustainable growth of 8 per cent.

25 Sep 2018 4:27 PM

Congress leader Jaiveer Shergill targeted the government and said 'this proves beyond doubt that Modi government is not a guardian or protector of public money but a travel agency facilitating fraud and happy safe flying of wilful bank loan defaulters'. (Photo: File)

BJP acting like travel agency, helping fraudsters to escape: Congress

Congress dubbed BJP as a party which is 'more loyal to a con-man than to a common man'.

15 Sep 2018 7:32 PM

The country's second largest PSU bank has suffered a loss of over Rs 14,000 crore on account of fraud carried out allegedly jewellery designer Nirav Modi.

PNB pins hope on asset sale, IBC resolution to raise Rs 13,000 cr

Moody's Investors Service had last month downgraded PNB's rating citing impact of the recent USD 2 billion fraud.

01 Jun 2018 6:49 PM

Patel had recently said that the Reserve Bank of India (RBI) did not have adequate powers to deal with public sector banks. (Photo: File)

RBI Governor to brief parliamentary panel on mounting bad debts

Patel will talk about the conditions of nationalised banks in view of rising NPAs and the future course of action to tackle bank frauds.

27 May 2018 4:42 PM

The growth was supported by factors like pent up demand on the back of favourable gold prices, pre-buying ahead of GST rollout, extended wedding season and strong rural demand with good crop output.

Stricter norms to hit gold demand

According to Icra, there has been a marked shift to organised trade post demonetisation and GST.

08 May 2018 1:25 AM

ICICI Bank on Monday reported 45 per cent decline in consolidated net profit to Rs 1,142 crore for the fourth quarter ended March 31, 2017-18.

ICICI Bank Q4 profit plunges 45 per cent to Rs 1,142 cr

It had a net profit of Rs 2,083 crore in the January-March quarter of the preceding fiscal, 2016-17.

07 May 2018 7:30 PM

Big wilful defaulters owed Rs 15,171.91 crore in loans to Punjab National Bank at the end of March this year.

Big wilful defaulters owe Punjab National Bank Rs 15,172 crore

The public sector lender has been putting out the names of wilful defaulters and firms since June 2017.

06 May 2018 11:33 AM

Showing urgency in dealing with absconding loan defaulters, the government has come out with series of rules to operationalise the fugitive economic offenders law.

Govt notifies rules to operationalise fugitive economic offenders law

The Fugitive Economic Offenders Ordinance, 2018, is aimed at deterring economic offenders from evading the process of law.

29 Apr 2018 1:32 PM

A parliamentary panel has called Reserve Bank Governor Urjit Patel on May 17 to answer queries on a spate of banking scams unearthed in the last few months, sources said.

Parliamentary panel calls Urjit Patel to answer queries on bank scams

Patel had recently said that the RBI doesn't have adequate powers to deal with pubic sector banks.

17 Apr 2018 3:19 PM

The government is preparing an action plan to recover revenues from high networth defaulters like Nirav Modi and Vijay Mallya who escaped the law and slipped out of the country.

Govt preparing action plan to recover revenues from likes of Mallya

CBDT has formed a committee to study these cases and prepare an action plan.

06 Apr 2018 12:40 PM

Rejecting the Centre’s argument that Aadhaar identity has ensured detection and prevention of bank frauds, the Supreme Court on Thursday orally observed that 'Aadhaar is not a catch for all frauds.' (Photo: File)

Aadhaar not a solution for all frauds, says Supreme Court

SC said Aadhaar is not a catch for all frauds and may not be a solution to all the ills, and, in particular, Bank frauds.

05 Apr 2018 9:16 PM

The President said that under MUDRA scheme, about 117 million loans have been sanctioned and close to 88 million of them have gone to women entrepreneurs.

Honest citizens bear burden of bank defaults: President Kovind

The amount involved in such defaults for PSBs is reported to be Rs 1,10,050 crore.

05 Apr 2018 2:00 PM

Punjab National Bank (PNB) has detected another small fraud at a Mumbai branch which is at the centre of Rs 12,600 crore fraud. (Photo: PTI)

PNB detects another fraud of Rs 9 Cr at branch involved in Nirav case

The new alleged fraud of around Rs 9.1 crore involves officials of a little known company called Chandri Paper and Allied Products Pvt Ltd.

15 Mar 2018 11:02 AM

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Syed Ata Hasnain

bank frauds