News Details- (Get Professional Updates on Whatsapp, Msg on
8285393786) More
News
Frauds worth Rs 11022 crore detected in PSU banks during April-December
PSU banks have reported over 2,100 fraud cases involving a sum of Rs 11,022 crore in the first nine months of the ongoing fiscal, with PNB reporting the maximum number of such instances.
An analysis of the data available with the Reserve Bank shows fraud cases, involving amount of Rs 1 lakh and above, in 26 state-owned banks during April-December 2014 has already surpassed the 2013-14 figure.
In 2013-14 fiscal, there were 2,593 such cases involving an amount of Rs 7,542 crore. The figure has shot up to Rs 11,022 crore from 2,166 cases in the nine-month period ending December 2014.
Delhi-based Punjab National Bank (PNB) had 123 cases of fraud totalling Rs 2,036 crore, followed by Central Bank of India with 147 cases involving an amount of Rs 1,783 crore.
Although the number of such fraud cases is the highest in country's largest lender State Bank of India(SBI) at 474, the total amount involved was less at Rs 1,327 crore.
Syndicate Bank reported 114 cases of frauds with total amount of Rs 749 crore involved, followed by Oriental Bank of Commerce (OBC) at 86 cases involving Rs 719 crore.
PSU banks report fraud cases of Rs one lakh and above to banking regulator RBI.
As per the data, Bank of Baroda(BoB) reported fraud worth Rs 597 crore, followed by IDBI Bank (Rs 507 crore), UCO Bank (Rs 424 crore) and United Bank of India (Rs 376 crore). (PTI - Economic Times.
An analysis of the data available with the Reserve Bank shows fraud cases, involving amount of Rs 1 lakh and above, in 26 state-owned banks during April-December 2014 has already surpassed the 2013-14 figure.
In 2013-14 fiscal, there were 2,593 such cases involving an amount of Rs 7,542 crore. The figure has shot up to Rs 11,022 crore from 2,166 cases in the nine-month period ending December 2014.
Delhi-based Punjab National Bank (PNB) had 123 cases of fraud totalling Rs 2,036 crore, followed by Central Bank of India with 147 cases involving an amount of Rs 1,783 crore.
Although the number of such fraud cases is the highest in country's largest lender State Bank of India(SBI) at 474, the total amount involved was less at Rs 1,327 crore.
Syndicate Bank reported 114 cases of frauds with total amount of Rs 749 crore involved, followed by Oriental Bank of Commerce (OBC) at 86 cases involving Rs 719 crore.
PSU banks report fraud cases of Rs one lakh and above to banking regulator RBI.
As per the data, Bank of Baroda(BoB) reported fraud worth Rs 597 crore, followed by IDBI Bank (Rs 507 crore), UCO Bank (Rs 424 crore) and United Bank of India (Rs 376 crore). (PTI - Economic Times.
Category : Banking | Comments : 0 | Hits : 1191
Get Free Daily Updates Via e-Mail on Income Tax, Service tax, Excise and Corporate law
Search News
News By Categories More Categories
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000

Comments