Recent Data on Bank Frauds and NPA

According to Minister of State for Finance, Bhagwat Karad, amount involved in bank frauds as well as select financial institutions has decreased by 8% in past two years. The amount has decreased from Rs 32,178 crore in 2019-20 to Rs ..

Tags: Bank fraud • Non Performing Assets (NPA) • Non Performing loans

Month: Current Affairs - July, 2022

Category: Economy & Banking Current Affairs - 2022 • Reports & Indexes Current Affairs

RBI Annual Report 2021-22: Highlights

In its annual report that has been released by the Reserve Bank of India (RBI), the central bank has highlighted that the Indian economy will most likely bounce back despite the present global risks.What are the various key highlights of ..

Tags: Bank fraud • fake currency • Inflation • Reserve Bank of India • Russia-Ukraine conflict

Month: Current Affairs - May, 2022

Category: Economy & Banking Current Affairs - 2022

ABG Shipyard Bank Fraud

The Central Bureau of Investigation (SB) has booked ABG Shipyard Ltd, in its biggest bank fraud case.HighlightsCBI also booked its then Chairman and Managing Director Rishi Kamlesh Agarwal along with others.They have been booked for cheating a consortium of banks ..

Tags: Bank fraud • Central Bureau of Investigation (CBI) • State Bank of India (SBI)

Month: Current Affairs - February, 2022

Category: Economy & Banking Current Affairs - 2022

RBI Positive Pay System

The Reserve Bank of India is to introduce “Positive Pay System” from January 1, 2021 for cheque transactions above Rs 50,000. This is to be done to enhance safety and eliminate frauds.What is Positive Pay System?It is a process of ..

Tags: Bank fraud • Cheque • cheque truncation system • Cheques • NPCI

Month: Current Affairs - December, 2020

Indian Banks to share data to tackle Fraud

Three Indian Banks- the Bank of India, the Bank of Baroda and the Allahabad Bank- have come together to create a seamless service for the transfer of data which would then be used to tackle frauds.What has happened?The three banks ..

Tags: Bank • Bank fraud • Banking in India • Crime • Financial services

T M Bhasin heads CVC committee to examine bank frauds above 50 crore

The Central Vigilance Commission (CVC) has constituted Advisory Board for Banking Frauds (ABBF) to examine bank fraud over Rs 50 crore and recommend action. The panel in its previous avatar called the Advisory Board on Bank, Commercial and Financial Frauds. ..

Tags: Bank fraud • Central Vigilance Commission • Crime • Fraud • Human behavior