Canara Bank informed the Bombay High Court that it has withdrawn its earlier decision to classify the loan accounts of industrialist Anil A...

The Bombay High Court raised concerns over the arbitrary process by banks declaring loan accounts as fraudulent without following proper RB...

State Bank of India (SBI): A person from Assam fell victim to a cyber fraud when he tried to return a Louis Philippe blazer. However, inste...

The Reserve Bank of India will introduce a name look-up facility for RTGS and NEFT systems by April 1, 2025. This will allow remitters to v...

The RBI said in a circular dated July 16, 2024, “These master directions have been prepared based on a comprehensive review of the earlier ...

The Bombay High Court ordered Bank of Baroda to refund Rs 76 lakh to a company due to online fraud. The ruling emphasized the importance of...

The finance ministry on Tuesday said top 50 wilful defaulters including Gitanjali Gems Limited, Era Infra Engineering Limited, REI Agro Lim...

A loan acocunt is categorised as a 'fraud account' after it is red-flagged on the basis of practices like fund diversion (even if there is ...

Rejecting the stand of both RBI and the consortium of lenders led by SBI, a Bench led by the Chief Justice said that a decision classifying...

The Supreme Court on Monday said a borrower must be accorded a hearing before an account is classified as "fraud" and a reasoned order must...

On July 1, 2016, the Reserve Bank of India came out with a Master Circular on "Frauds – Classification and Reporting" under Section 35 A of...

As per SARFAESI Act, a bank can decide the liability and does not have to approach a court or tribunal to enforce any security interest cre...

The agency alleged that Usha Ananthasubramanian, then MD and CEO of PNB, was aware of the fraudulent dealings and deliberately misled the R...

An LoU is a guarantee given by an issuing bank to Indian banks having branches abroad to grant short-term credit to the applicant.

The proposal to limit customer liability in a fraudulent transaction was floated in a draft circular in August 2016, with RBI coming out wi...

The consortium led by UCO Bank alleged that the company had defrauded them through conspiracy, cheating and forgery and handed over the cas...

Reserve Bank of India on Friday said fraudulent and fictitious offers though e-mails, mobile phones and SMSs had increased significantly in...