BANK FRAUDS

CBI books Hyderabad-based Coastal Projects Ltd in connection with Rs 4,736 crore bank fraud

The complaint from the SBI, now a part of the FIR, has alleged that the accused construction company, during the five year period between 2...

Public sector banks may follow a uniform practice on employee accountability for bad loans

Indian Banks’ Association (IBA) has formed a committee under Canara Bank ED MV Rao to look into the nuances of staff accountability. The pa...

HC asks SBI to maintain status quo on accounts of Anil Ambani's firms RCom, Reliance Telecom, Infratel

The erstwhile directors of the three companies had filed a plea challenging a 2016 circular of the Reserve Bank of India regarding declarat...

CBI searches premises of private firm, its directors in Delhi in Rs 168-crore bank fraud case

Its account with Punjab National Bank was declared non performing asset in 2016 with retrospective effect from 2014 as attempts to revive i...

Sanjay Raut's wife Varsha deposes before ED in PMC bank fraud

The source said that she will questioned about the Rs 55 lakh interest free loan transferred to her in 2010 and 2011 by her business partne...

CBI books Hyderabad-based infra firm IVRCL, its MD for alleged bank fraud of Rs 4837cr: Officials

The CBI has alleged that the company had availed credit facilities from consortium members and cheated them by not repaying the loan amount.

PMC Bank money laundering case: ED summons Sanjay Raut's wife for questioning on December 29

The Shiv Sena, which is part of Maharashtra's ruling alliance Maha Vikas Aghadi (MVA) along with the NCP and the Congress, had earlier alle...

Punjab & Sind Bank declares Sintex Industries account as fraud

It is informed that an NPA account Sintex Industries Ltd with outstanding dues of Rs 294.49 crore has been declared as fraud, the Bank said...

Indian banks pursue UK bankruptcy order against Vijay Mallya

At a virtual hearing before Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs on Friday, both sides deposed retired Indian ...

PMC Bank gets four investment proposals, says RBI

Last month, PMC had invited expression of interest (EoI) from potential investors for investment or equity participation in the bank for it...

Former MP and TDP leader booked by CBI in bank fraud

The agency conducted raids at the premises belonging to Rao and others in connection with the bank fraud case. Rao was serving as Additiona...

Are middleware solutions the need of the hour for Indian Banks?

Globsyn’s NOTIVA is one such middleware solution that offers a high-end solution for banks and financial institutions in the field of trans...

Banking frauds continue to rise amidst Covid-19 pandemic

Lack of oversight by the bank managers due to the work from home situation and the change in the existing processes could be one of the rea...

Yes Bank case: Rana Kapoor's daughter Roshni gets bail

Roshni Kapoor was summoned by the court last month in connection with the case. She is one of the eight accused named in the chargesheet fi...

Rs 946-cr bank fraud case: CBI carries out searches against Ezeego promoters in Mumbai

The Central Bureau of Investigation (CBI) has booked company promoters Ajay Ajit Peter Kerkar and Urrshila Kerkar, and directors Neelu Sing...

Punjab and Sind Bank reports account of IL&FS Financial Services (IFIN) as fraud account to RBI

The scam at the IL&FS group came to light in September 2018 after several group entities defaulted on repayments due to severe liquidity pr...

As digital pay opens up, so do banking frauds

Last year around this time, a Singapore-based cybersecurity firm Group-IB had flagged that nearly 1.3 million debit and credit card data of...