Bank Frauds

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

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

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

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

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

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

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'

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

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

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