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Fraud at public sector banks - A rampant occurrence?

88% of large value fraud worth Rs 13,766 Cr was perpetrated at nationalized banks according to an RBI study

The CBI has raided their homes and the State Bank of India has initiated an internal enquiry into the bribery charges leveled by the investigating agency against Shyamal Acharya, deputy managing director of SBI and KK Kumarah, former assistant general manager, in what is now being called the Rs 400 Cr bribes for loans graft case. ALSO READ: Graft case: SBI asks Acharya to go on leave; sets up probe panel   This is not the first time the ugly head of corruption has reared itself in the public sector banking space. In 2010, the CBI had busted a racket in which ...