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Total 222 results found. Search for [ banking frauds ]

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April 4, 2018
Central Vigilance Commissioner K V Chowdary on Tuesday said the Reserve Bank of India had apparently not conducted an audit during the period of time when a Rs 13,000-crore scam hit the Punjab National Bank. Chowdary stressed the need to put into place a more robust auditing system.

April 3, 2018

Dipak Mondal
New Delhi, April 3, 2018
The group found that Nirav Modi's company was granted loan despite his company having only current account with the Brady House branch of the bank. \"When there is only current account, no credit facility should be granted -- neither the letter of undertakings (LoUs) nor Letter of credit (LoCs),\" says SB Zaware, member, Central Council, ICAI.

Devashish Das Gupta
New Delhi, April 2, 2018
In an era, where banks and financial institutions are grappling to come in terms with an onslaught of frauds and irresponsible behaviour, a lot is at stake for the economy. Such incidents shatter the trust of masses in institutions like banks and NBFCs.

April 2, 2018
The whistle-blower who first red-flagged \"the illicit banking and commercial relationship between Videocon Group of Venugopal Dhoot and ICICI Bank's MD & CEO Chanda Kochhar's family\" has reportedly claimed that he'd raised several such cases in the past, too.

April 1, 2018

March 27, 2018
The war of words between the RBI Governor Urjit Patel and the Finance Ministry over the recent bank frauds in the country seems unlikely to die down. After Finance Minister Arun Jaitley, the Chief Economic Advisor Arvind Subramanian is the latest person to jump into the fray.  

March 25, 2018
Arvind Panagariya, who is currently a professor of economics at Columbia University, further said that predominance of scandals and NPAs in PSBs is only one albeit important reason for privatisation of PSBs.

March 22, 2018

Mail Today Bureau
March 22, 2018
The CBI carried out searches at the official and residential premises of promoters of Kanishk Gold Pvt Ltd on Wednesday as it launched investigations in the Rs 824 crore loan fraud case.

March 21, 2018
The State Bank informed the CBI about the fraud on January 25 and charged Kanishk with 'manipulating records, shutting shop overnight'. Bankers were unable to contact the Kanishk promoters.

New Delhi, March 21, 2018
Last month, the RBI completely revamped the NPA resolution framework. It not only ditched all its past schemes for dealing with bank bad loans but also implemented stricter timelines for implementation of resolution plans.

New Delhi, March 20, 2018
Last week, it was RBI Governor Urjit Patel, who blamed the \"system of dual regulation by the Finance Ministry in addition to RBI\" for creating an environment susceptible for frauds like the still-unravelling PNB scam.

Prosenjit Datta
March 19, 2018
Finance Minister Arun Jaitley squarely blamed the bank management and also the auditors, internal and external. But he also pointed to the regulator, making a comment that supervisory agencies had to introspect about mechanisms they could put in place so that stray incidents didn't become the norm.

March 16, 2018
While the country's biggest banking fraud with the Punjab National Bank at its epicentre is still unravelling, two major questions are yet to be fully addressed: How was it allowed to play out for so long, and who is to blame?

New Delhi, March 15, 2018
With opposition and government differing over contours of debate on thebiggest bank fraud, Vice President M Venkaiah Naidu on Thursday saidParliament should function to debate on the larger issue of frauds,damage they cause to the country's image and doubts created overbanking system.

Sahil Joshi
Mumbai, March 15, 2018
The ED has already issued Letter Rogatory (LR) - a request sent to a foreign court for judicial assistance - to 13 countries, including Hong Kong and UAE, to seek their cooperation in the investigation. 

March 15, 2018
March 15, 2018
Urjit Patel in a statement issued on Wednesday said that the Reserve Bank's regulatory powers over PSBs banks were limited. He listed out seven things that RBI cannot do when it comes to PSBs.

New Delhi, March 14, 2018
Reserve Bank of India Governor Urjit Patel's comments came after the recent scams at Punjab National Bank, and subsequent revelations about more frauds at other public sector banks.

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