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Rs 1,100 Crore Fraud Uncovered In Jammu And Kashmir Bank, Officers Raided

Sunday, October 20, 2019, 9:22 AM

The Anti-Corruption Bureau on Saturday filed a First Information Report in the Jammu and Kashmir Bank loan fraud case involving over Rs. 1,100 crore, officials said. According to the probe conducted during the PE, the JLGs were found to be non-existing entities, the credentials and antecedents of which were never verified by the bank, he added.
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Mumbai Police files FIR in Rs.4,355 crore PMC Bank 'scam'

Tuesday, October 1, 2019, 12:36 PM

The Economic Offences Wing (EOW) of Mumbai Police registered a first information report (FIR) on the alleged fund diversion at Punjab Maharashtra Cooperative (PMC) Bank that had led the RBI to restrict withdrawals by depositors. According to the FIR, the amount involved in the alleged irregularities has been pegged at Rs.4,355.46 crore but that could go up during the course of the probe.
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Banks see whopping 73% spike in frauds in FY19

Thursday, July 4, 2019, 6:48 PM

Banks have reported a massive 73 percent increase in incidents of fraud worth Rs 71,543 crore in FY19, a senior Reserve Bank official said Thursday. Till March 2019, the top five, 10 and 100 cases of frauds cumulatively reported constituted 24 percent, 34 percent and 70 percent of all frauds, respectively, a chief general manager with the RBI Jayant Dash said.

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