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Indian Bank Frauds Up, Will Continue Rising, Says Deloitte

Monday, November 26, 2018, 12:52 PM

Rounding off the year of India's biggest banking fraud on state-run Punjab National Bank (PNB), British professional services multinational Deloitte said such frauds will continue to rise with banks continuing to "lack a holistic anti-financial crime compliance programme". According to the third edition of Deloitte India Banking Fraud Survey released, about 84% of survey respondents pointed to a substantial rise in fraud incidents.
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Nirav Modi Scam A Bygone, Says PNB Managing Director Sunil Mehta

Tuesday, October 2, 2018, 2:56 PM

State-run PNB is expected to turn profitable this fiscal year and is poised for growth, its managing director Sunil Mehta said, asserting that the Rs.14,000-crore Nirav Modi scam is a bygone. Mr Mehta said he hopes that PNB will be back into the black during 2018-19 due to various efforts taken by the bank after the fraud came to light in January this year.
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RBI submitted a list of high profile fraud cases to PMO: Rajan

Wednesday, September 12, 2018, 1:01 PM

Former RBI Governor Raghuram Rajan has said that he sent a list of high profile cases of banking frauds to the Prime Minister's Office. Rajan urged that they "coordinate action to bring at least one or two to book." "I am not aware of progress on this front. This is a matter that should be addressed with urgency," Rajan added.

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