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TERM DEPOSIT FRAUD
Rs 36.4 lakh fraud in Post Office through NSC and term deposit: India Post employees convicted; Madhya Pradesh HC grants relief to depositorsEmployees at the Bina branch of India Post defrauded depositors out of Rs 36.4 lakh through forged documents. The Madhya Pradesh High Court...- CBI books IL&FS Energy, executives in alleged Rs 212 crore Canara Bank loan fraud caseThe Central Bureau of Investigation has registered a case against IL&FS Energy Development Company and its executives over loan fraud. This...
- Sunil Bharti Mittal is prowling for big kill on his African safariAirtel Money’s London listing has put a roughly $7 billion valuation on Sunil Bharti Mittal’s African fintech bet, highlighting how far the...
- Banks likely to deploy FCNR(B) liquidity in coming months as festive credit demand rises: RBI Deputy GuvReserve Bank Deputy Governor Rohit Jain stated that banks are expected to deploy additional liquidity from FCNR(B) deposits. This deploymen...
- MCA cautions against investing in Nidhi companies without due diligenceThe Ministry of Corporate Affairs has issued a warning regarding Nidhi Companies and their investment practices. Nidhi Companies are mutual...
- ‘I would never want to lose him’: Jamie Dimon backs Chandra, flags India tax hurdles and sees AI paying offJamie Dimon sees India as a fast-growing economy with bright future prospects. He believes consistent regulations and taxing policies will ...
- Should you have multiple bank accounts? Here’s how many you really needShould you keep all your money in one bank account or spread it out? While multiple accounts can aid in budgeting and offer deposit insuran...
- HDFC Bank next CEO: Check bankers in the running for top jobHDFC Bank has accelerated its search for a successor to CEO Sashidhar Jagdishan, who will not seek an extension, with an executive search f...
- HDFC Bank CEO race: Who could be in the running to succeed Sashidhar Jagdishan?HDFC Bank is actively searching for a new chief executive officer. The bank expects to appoint an executive search firm soon. Several inter...
- China Evergrande founder Hui Ka Yan gets life in prison as property giant’s saga endsChina Evergrande founder Hui Ka Yan received a life sentence for fraud charges. The court also confiscated all of his personal property and...
- Banks mobilise $27.99 billion via FCNR deposits since RBI introduced USD-rupee forex swap facilityBanks have mobilized USD 27.99 billion from non-resident Indians through a forex swap facility. Domestic payment frauds across all banks am...
- Axis Bank launches new feature ‘Lock FD’ to curb digital fraud; here’s how to activate itSeveral banking customers are increasingly concerned about the security of their hard-earned money, especially given the rising cases of on...
- 4,071 banking fraud cases involving Rs 36,342 cr reported during H1 FY2022: RBI reportIn H1 2021-22, banks saw 1,802 reported cases of frauds amounting to Rs 35,060 crore which were related to advances. There were 1,532 repor...
- RBI revises lockers rules: Bank liability limited to 100 times of annual rentThe revised instructions will be applicable to both new and existing safe deposit lockers and the safe custody of articles facility with th...
- Public Sector Banks account for 85% of bank fraud cases: RBI reportThe RBI said the state-run banks lacked effective credit screening and oversight. The significant differences in operational risk called fo...
- Audit reports must carry information on company's loan defaults, duesThe corporate affairs ministry has issued guidelines for auditors on matters that have to be included in the audit reports prepared by them.
- New Companies Act 'draconian', feel auditors; officials if found guilty of fraud then liable to pay 3 times of amount involvedWhile the previous law allowed professionals to get away with a fine for most offences, Companies Act, 2013 stipulates jail terms of up to ...
- Madoff sentencing set for June 29The sentence for Wall Street fraudster Bernard Madoff will be delivered on June 29, a federal judge announced here on Thursday. He could be...
- Did Satyam funds evaporate after September 2008?As per the last audit done by PwC for the quarter ending Sep 2008, Satyam had fixed deposits of over Rs 3,300 crore. Top Accounting scandal...
- RBI asks auditors to tighten reporting norms for NBFCsThe non-banking finance companies (NBFCs) are set to face stringent reporting norms by the Reserve Bank of India.
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