Bank Scams

SC grants 4 more weeks to CBI to file reply on Subramanian Swamy's plea

The Supreme Court on Friday granted four-week extension to the Central Bureau of Investigation and Reserve Bank of India to file reply on a plea filed by BJP leader Subramanian Swamy seeking probe into the alleged role of the central bank officials in various banking scams. A bench of Justices B R Gavai and Vikram Nath said it will hear the matter after six weeks. The top court had issued notices to the CBI and ED on October 17. Swamy has alleged that the involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed. He contended that despite playing a key role in the allocation of funds to various projects, RBI nominees have not been touched by CBI enquiries from 2000 till today. "Not a single RBI official has been brought to justice despite RBI retaining the power to monitor, regulate, supervise, audit and direct the functioning of all banking companies in India," the plea submitted. The plea also alle

China to repay more victims of nation's biggest bank scam: Report

Clients from the four rural banks in the central province of Henan and one in Anhui with deposits of up to 100,000 yuan ($14,800) will be repaid from July 25

'How did scams happen in cooperative banks': Shah takes veiled dig at MVA

Taking a veiled dig at Maha Vikas Aghadi government, Shah on Saturday raised questions over the alleged scams involving crores of money in cooperative banks of Maharashtra

MSC Bank scam: Hearing on Anna Hazare's plea against closure starts

Maharashtra Deputy Chief Minister Ajit Pawar was one of the accused named in the case

PMC Bank: Auditor arrested in scam of over Rs 4000-crore seeks bail

A bank auditor arrested in connection with the over Rs 4000-crore PMC Bank scam moved a bail application in the sessions court

PMLA court orders seizure of Nirav Modi's assets worth Rs 1,400 crore

Court also allows banks to lay claims for secured assets out of these confiscated assets

Huge scam in YES Bank for many years, says Enforcement Directorate

Rana Kapoor's wife also charged with abetting crime

Fake websites to emails, fraudsters see opportunities in Covid-19 crisis

Fraudsters see opportunities in these uncertain times

Bank fraud case: ED attaches media group's assets worth over Rs 124 crore

The group companies "fraudulently" availed loans to the tune of Rs 2,600 crore from banks

Letter to BS: Another scam unearthed, can we bank on bankers anymore?

The ordinary man has to keep his fingers crossed hoping his savings are safe

RBI rejigs departments for better supervision, regulation of banking sector

The development follows the RBI's central board decision to create separate supervisory and regulatory cadre

Forensic audits business expected to boom as RBI prepares new norms

RBI's Annual Report for FY19 says the number frauds went up by 15% to 6,801 cases

PNB scam fallout: RBI asks banks for details of LoUs as far back as 2011

Importers typically use LoUs issued by their local bank to raise cheaper foreign currency loans overseas to fund purchases