Page 4 - Bank Frauds

India files complaint against ABG Shipyard alleging $3 billion bank fraud

The report, posted on the Central Bureau of Investigation's website, said a forensic audit report it received from the banks two years ago had found instances of fraud in April 2012 and July 2017

Congress questions Modi government over ABG Shipyard bank-fraud case

The CBI has booked ABG Shipyard Limited, its former chairman and managing director Rishi Kamlesh Agarwal and others for allegedly cheating a consortium of banks led by SBI of over Rs 22,842 crore

Loans to ABG Shipyard turned NPAs prior to 2014, says FM Sitharaman

Normally banks take 52-56 months of time to detect such cases and initiate follow-up actions, said Finance Minister Nirmala Sitharaman

Bank frauds of Rs 5.35 trillion occurred under Modi govt: Rahul Gandhi

Rahul Gandhi alleged that bank frauds to the tune of Rs 5.35 lakh crore have taken place during the BJP government and that these are good days only for PM Modi's "friends".

CBI registers four separate cases of bank fraud; conducts searches

Following the registration of the FIR, the Central Bureau of Investigation conducted searches at the locations in Ahmedabad at the premises of the accused

Maha: FIR against cooperative bank chairman, others for Rs 229 cr fraud

A few months ago, the board of directors of this bank had been dismissed and an administrator appointed.

CBI files charge sheet against Indian Bank manager in deposit fraud case

The CBI has filed a charge sheet against 18 people

Bank loan fraud: ED arrests MD of Mumbai-based agro company

The Enforcement Directorate (ED) on Monday said it has arrested the managing director of a Mumbai-based agro company in a money laundering probe linked to an alleged multi-crore bank fraud.

Bengaluru police, RBI and banks join hands to check bank frauds

A complaint lodged with the police will immediately be alerted to banks and payment gateways who can stop the transaction mid-way

Former bank manager arrested for embezzlement of Rs 1.5 cr in Odisha

Former manager of a nationalised bank in Odisha's Kendrapara district was arrested for allegedly embezzling around Rs 1.5 crore, police said on Saturday.

ED arrests Shakti Bhog CMD in money laundering case linked to bank fraud

ED said it has arrested Kewal Krishan Kumar, chairman and managing director (CMD) of Delhi-based Shakti Bhog Foods Limited, in a money laundering case linked to an alleged multi-crore bank loan fraud

CBI books Ruchi Global, its directors for Rs 188 crore bank fraud

The CBI has filed an FIR against Ruchi Global Limited and its directors for allegedly cheating a consortium of banks led by Bank of Baroda to the tune of Rs 188.35 crore, officials said on Wednesday. The agency carried out searches at the premises of the accused at six locations in Indore, Mumbai and Bangalore, they said. The agency has booked Ruchi Global Limited and its directors Umesh Shahra, Saket Barodia and Ashutosh Mishra in the case pertaining to the alleged fraud between January 1, 2016 and December 31, 2017. It is alleged that the accused fraudulently indulged in diversion of funds, speculation transactions, non-routing of sale proceeds in consortium bank accounts, transactions with related parties/sister concerns, etc., the CBI spokesperson said in a statement. The company was doing business with related entities having a common address with directors being employees of the accused company, Bank of Baroda alleged in its complaint, which is now part of the CBI FIR. It is

ED raids residence, office of TRS' Nama Nageswara in Rs 1,064 cr fraud case

Residences and offices of the TRS MP Nama Nageswara Rao and the directors of Ranchi Expressway Limited were raided in connection with Rs 1,064 crores bank fraud case, sources said

CBI books Ghosh Brothers Automobiles in Rs 168 cr bank fraud case

CBI said that it has registered a case against Guwahati-based Ghosh Brothers Automobiles and its promoters and directors in a bank fraud case worth Rs 168 crore

Bank frauds on the rise under Modi government, alleges Congress

The Congress on Monday alleged that banking frauds have risen under the Modi government and accused it of allowing the fraudsters to either continue functioning in the country or leave.

In three years, RBI pulls out over 900 mn notes of Rs-2,000 denomination

Rs-2,000 notes comprised only 2% by volume of total floating currency notes as of March 31, 2021, compared with 3.3% in 2018

With banks blindsided by Covid-19, incidence of fraud may well have gone up

RBI's supervisory load has also gone up, with both non-banking financial companies and urban co-operative banks coming under closer scrutiny

SC refuses to stay Telangana HC order on RBI's fraud classification

However, it allowed the parties to file replies and rejoinders and listed the matter on July 13

CBI raids over 100 locations in bank fraud cases amounting to Rs 3,700 cr

The Central Bureau of Investigation (CBI) conducted searches over 100 places in 11 States and Union Territories in connection with more than 30 cases of bank fraud amounting to over Rs 3,700 crore

Reserve Bank of India imposes Rs 2 cr penalty on Standard Chartered Bank

The Reserve Bank on Thursday imposed a penalty of Rs 2 crore on Standard Chartered BankIndia for delays in reporting of frauds to it.