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Don't report frauds below Rs one lakh to police: CVC to public sector banks

Earlier banks were mandated to report fraud of above Rs 10,000 and below Rs one lakh to police

Press Trust of India  |  New Delhi 

Don't report frauds below Rs one lakh to police: CVC to public sector banks

The (CVC) has asked not to report frauds below Rs one lakh to local police, unless their staff is involved in such crimes.

Earlier were mandated to report fraud of above Rs 10,000 and below Rs one lakh to police.



The decision was taken by the in consultation with the (RBI), taking into the account the practical difficulties faced by in reporting such categories of cases.

It has been decided that only if staff of the bank is involved in the fraud cases of below Rs one lakh and above Rs 10,000, would such cases need to be reported or complaint filed with local police station by the bank branch concerned, the commission said in a directive to chiefs of all the

The cases of frauds of upto Rs one lakh and not below Rs 10,000 are to be scrutinised by officials concerned for further necessary action, a senior official said.

As of September 30, 2016, the (NPAs) declared by various scheduled commercial stood at a whopping Rs 6,65,864 crore, according to an official data.

The NPAs of the country's largest lender State Bank of India is Rs 97,356 crore, followed by Rs 54,640 crore of Punjab National Bank and Rs 44,040 crore of Bank of India, it said.

Bank of Baroda has NPAs of Rs 35,467 crore, Canara Bank Rs 31,466 crore, Indian Overseas Bank Rs 31,073 crore, Union Bank of India Rs 27,891 crore, IDBI Bank Limited Rs 25,973 crore, Central Bank of India Rs 25,718 crore, Allahabad Bank Rs 18,852 crore and Oriental Bank of Commerce Rs 18,383 crore, said the data, which was given by the government in Rajya Sabha in August last year.

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Don't report frauds below Rs one lakh to police: CVC to public sector banks

Earlier banks were mandated to report fraud of above Rs 10,000 and below Rs one lakh to police

Earlier banks were mandated to report fraud of above Rs 10,000 and below Rs one lakh to police The (CVC) has asked not to report frauds below Rs one lakh to local police, unless their staff is involved in such crimes.

Earlier were mandated to report fraud of above Rs 10,000 and below Rs one lakh to police.

The decision was taken by the in consultation with the (RBI), taking into the account the practical difficulties faced by in reporting such categories of cases.

It has been decided that only if staff of the bank is involved in the fraud cases of below Rs one lakh and above Rs 10,000, would such cases need to be reported or complaint filed with local police station by the bank branch concerned, the commission said in a directive to chiefs of all the

The cases of frauds of upto Rs one lakh and not below Rs 10,000 are to be scrutinised by officials concerned for further necessary action, a senior official said.

As of September 30, 2016, the (NPAs) declared by various scheduled commercial stood at a whopping Rs 6,65,864 crore, according to an official data.

The NPAs of the country's largest lender State Bank of India is Rs 97,356 crore, followed by Rs 54,640 crore of Punjab National Bank and Rs 44,040 crore of Bank of India, it said.

Bank of Baroda has NPAs of Rs 35,467 crore, Canara Bank Rs 31,466 crore, Indian Overseas Bank Rs 31,073 crore, Union Bank of India Rs 27,891 crore, IDBI Bank Limited Rs 25,973 crore, Central Bank of India Rs 25,718 crore, Allahabad Bank Rs 18,852 crore and Oriental Bank of Commerce Rs 18,383 crore, said the data, which was given by the government in Rajya Sabha in August last year.
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Business Standard
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Don't report frauds below Rs one lakh to police: CVC to public sector banks

Earlier banks were mandated to report fraud of above Rs 10,000 and below Rs one lakh to police

The (CVC) has asked not to report frauds below Rs one lakh to local police, unless their staff is involved in such crimes.

Earlier were mandated to report fraud of above Rs 10,000 and below Rs one lakh to police.

The decision was taken by the in consultation with the (RBI), taking into the account the practical difficulties faced by in reporting such categories of cases.

It has been decided that only if staff of the bank is involved in the fraud cases of below Rs one lakh and above Rs 10,000, would such cases need to be reported or complaint filed with local police station by the bank branch concerned, the commission said in a directive to chiefs of all the

The cases of frauds of upto Rs one lakh and not below Rs 10,000 are to be scrutinised by officials concerned for further necessary action, a senior official said.

As of September 30, 2016, the (NPAs) declared by various scheduled commercial stood at a whopping Rs 6,65,864 crore, according to an official data.

The NPAs of the country's largest lender State Bank of India is Rs 97,356 crore, followed by Rs 54,640 crore of Punjab National Bank and Rs 44,040 crore of Bank of India, it said.

Bank of Baroda has NPAs of Rs 35,467 crore, Canara Bank Rs 31,466 crore, Indian Overseas Bank Rs 31,073 crore, Union Bank of India Rs 27,891 crore, IDBI Bank Limited Rs 25,973 crore, Central Bank of India Rs 25,718 crore, Allahabad Bank Rs 18,852 crore and Oriental Bank of Commerce Rs 18,383 crore, said the data, which was given by the government in Rajya Sabha in August last year.

image
Business Standard
177 22