Rbi Report On Bank Frauds

Digital payment frauds in India saw a 400 percent jump in the year ended March 2024, according to the Reserve Bank of India's (RBI) annual report. Data from the central bank shows that the value of transactions on UPI jumped 137% in the past two years to 200 trillion rupees, while the rise in online transactions is also boosted by cheap access to t...

India's central bank plans to soon change guidelines to permit banks to temporarily freeze accounts suspected of being used to commit cyber crimes, as it battles a rising wave of online crime, three sources told Reuters.

The Reserve Bank of India (RBI) on Tuesday said that it has imposed a penalty of Rs 12 crore 19 lakh on ICICI Bank for violating rules related to the code of conduct for the bank's directors and for fraud reporting.

RBI has imposed a penalty of Rs 1 crore on Union Bank of India for violating certain provisions related to sale of stressed assets and fraud reporting

Finance Minister Nirmala Sitharaman said she will speak with the RBI Governor this evening over the distress of depositors of Punjab Maharashtra Co-operative (PMC) Bank. She met a group of angry customers of the cooperative bank in Mumbai this afternoon just before addressing a press conference.

Lakshmi Vilas Bank-RBI News: The Reserve Bank of India (RBI) has advised Lakshmi Vilas Bank on the restrictions put in place and the actions to be taken. Lakshmi Vilas Bank will report the RBI on the progress of the compliance measures on a monthly basis.

Congress leader Priyanka Gandhi Vadra attacked the government on Friday over an RBI report showing bank frauds have gone up by 15 per cent year-on-year in 2018-19, asking who is the guarantor allowing such "big bank frauds".

The Punjab National Bank (PNB) on Saturday said it had reported a borrowing fraud of Rs 3,805 crore ($556 million) in Bhushan Power & Steel Ltd's account to the Reserve Bank of India (RBI).

Government has sacked two senior executives of the state-run Punjab National Bank for allegedly failing to prevent a $2 billion fraud, two sources with direct knowledge of the matter said on Sunday

The anti-corruption body Central Vigilance Commission has completed a first-of-its-kind analysis of the top 100 banking frauds, including those in the jewellery and aviation sectors, and shared its findings with the RBI, the Enforcement Directorate and the CBI, Vigilance Commissioner TM Bhasin said today.

Facing tough questions from parliamentarians on the Nirav Modi scam and bad loans hitting state-run lenders, RBI Governor Urjit Patel said today that the regulator had limited powers to act against public sector banks like Punjab National Bank (PNB).

The Reserve Bank of India (RBI) has declined to share inspection reports for scam-hit Punjab National Bank (PNB), citing RTI clauses that bar disclosure of details which may impede the investigation process or prosecution of offenders among other reasons. Replying to an RTI query, the central bank also said it does not have "specific information" o...

Going by historical evidence, the RBI should have approved the bonuses well before March 31, 2018, said a banking analyst.

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, the Central Bureau of Investigation said in the complaint posted on its website.

The Central Bureau of Investigation (CBI) arrested three more employees of the Punjab National Bank or PNB on Monday over the Rs 11,400 crore loan fraud case involving celebrity jeweller Nirav Modi. The arrests came as the government said the scandal exposed a "supervisory failure" by the Reserve Bank of India (RBI), media reports said.

Digital payment frauds in India saw a 400 percent jump in the year ended March 2024, according to the Reserve Bank of India's (RBI) annual report. Data from the central bank shows that the value of transactions on UPI jumped 137% in the past two years to 200 trillion rupees, while the rise in online transactions is also boosted by cheap access to t...

India's central bank plans to soon change guidelines to permit banks to temporarily freeze accounts suspected of being used to commit cyber crimes, as it battles a rising wave of online crime, three sources told Reuters.

The Reserve Bank of India (RBI) on Tuesday said that it has imposed a penalty of Rs 12 crore 19 lakh on ICICI Bank for violating rules related to the code of conduct for the bank's directors and for fraud reporting.

RBI has imposed a penalty of Rs 1 crore on Union Bank of India for violating certain provisions related to sale of stressed assets and fraud reporting

Finance Minister Nirmala Sitharaman said she will speak with the RBI Governor this evening over the distress of depositors of Punjab Maharashtra Co-operative (PMC) Bank. She met a group of angry customers of the cooperative bank in Mumbai this afternoon just before addressing a press conference.

Lakshmi Vilas Bank-RBI News: The Reserve Bank of India (RBI) has advised Lakshmi Vilas Bank on the restrictions put in place and the actions to be taken. Lakshmi Vilas Bank will report the RBI on the progress of the compliance measures on a monthly basis.

Congress leader Priyanka Gandhi Vadra attacked the government on Friday over an RBI report showing bank frauds have gone up by 15 per cent year-on-year in 2018-19, asking who is the guarantor allowing such "big bank frauds".

The Punjab National Bank (PNB) on Saturday said it had reported a borrowing fraud of Rs 3,805 crore ($556 million) in Bhushan Power & Steel Ltd's account to the Reserve Bank of India (RBI).

Government has sacked two senior executives of the state-run Punjab National Bank for allegedly failing to prevent a $2 billion fraud, two sources with direct knowledge of the matter said on Sunday

The anti-corruption body Central Vigilance Commission has completed a first-of-its-kind analysis of the top 100 banking frauds, including those in the jewellery and aviation sectors, and shared its findings with the RBI, the Enforcement Directorate and the CBI, Vigilance Commissioner TM Bhasin said today.

Facing tough questions from parliamentarians on the Nirav Modi scam and bad loans hitting state-run lenders, RBI Governor Urjit Patel said today that the regulator had limited powers to act against public sector banks like Punjab National Bank (PNB).

The Reserve Bank of India (RBI) has declined to share inspection reports for scam-hit Punjab National Bank (PNB), citing RTI clauses that bar disclosure of details which may impede the investigation process or prosecution of offenders among other reasons. Replying to an RTI query, the central bank also said it does not have "specific information" o...

Going by historical evidence, the RBI should have approved the bonuses well before March 31, 2018, said a banking analyst.

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, the Central Bureau of Investigation said in the complaint posted on its website.

The Central Bureau of Investigation (CBI) arrested three more employees of the Punjab National Bank or PNB on Monday over the Rs 11,400 crore loan fraud case involving celebrity jeweller Nirav Modi. The arrests came as the government said the scandal exposed a "supervisory failure" by the Reserve Bank of India (RBI), media reports said.