Frauds Current Affairs, GK & News

171 Hospitals de-empanelled under Ayushman Bharat Scheme

January 4, 2020

On January 3, 2020, around 171 hospitals were de-empanelled by Ministry of Health and Family Welfare for committing fraud. The Ministry had also imposed a fine of Rs 4.5 crores. The FIRs were lodged on 6 hospitals in Uttarakhand and Jharkhand states. Highlights The Anti-Fraud units detected fake e-cards and lodged FIRs in the corresponding ..

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Central Equipment Identify Register: Government launches web portal to trace stolen mobiles

December 31, 2019

The Government of India on December 30, 2019, launched “Central Equipment Identify Register” portal to block and trace mobile phones. The web portal will operate under Department of Telecom. Highlights The CEIR portal has been established in order to address theft, security and other concerns. The portal will also hold database of IMEI numbers of ..

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RBI Financial Stability Report: NPAs will increase

December 28, 2019

On December 27, 2019, RBI released Financial Stability Report. The report is biennial and reflects the collective assessment of the Sub-committee of Financial Stability and Development Council. The report said that the non-performing asset ratio of banks is increasing. It was 9.9% in September 2019 and may rise to 9.9% in September 2020. Highlights of ..

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CVC constitutes Advisory Board for Banking Frauds

August 26, 2019

The Central Vigilance Commission (CVC) has constituted Advisory Board for Banking Frauds (ABBF) to examine bank fraud over Rs 50 crore and recommend action. It is reconstituted and rejigged version of erstwhile Advisory Board on Bank, Commercial and Financial Frauds. About Advisory Board for Banking Frauds (ABBF) Composition: Former Vigilance Commissioner T M Bhasin will ..

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Credit Rating Model: Government testing big data system to aid banks assess credit risks

June 25, 2018

Ministry of Electronics and Information Technology (MeitY) is testing credit rating model, a new system that will assist banks in assessing credit risk and probability of fraud using big data analysis. The system is expected to help banks, particularly rural and cooperative banks, tackle the issue of rising nonperforming assets (NPAs). Currently, rural and cooperative ..

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RBI constitutes YH Malegam committee to monitor bad loans, rising cases of frauds, audits

February 21, 2018

Reserve Bank of India (RBI) has constituted an expert committee to look into the entire gamut of issues relating to classification of bad loans, effectiveness of audits and rising incidents of frauds. The committee will be headed by Y H Malegam, a former member of Central Board of Directors of RBI. Terms of References The ..

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