Tag: bank fraud
Banks to offer opportunity of hearing to borrowers before classifying their account as fraud – Supreme Court ABCAUS Neutral Case Law Citation:ABCAUS 3693 (2023) (03) SC In the instant case, RBI and various banks had challenged the order passed by the High Court holding that the principles of …
Government puts in place measures to protect Commercial decision making by Banks The Finance Minister has repeatedly assured Bankers that adequate measures would be taken to protect honest commercial decisions taken by them and distinction would be made between genuine commercial failures and culpability.Every Bank was also required …
Steps taken for prevention of fraudulent banking practices. Checking of NPAs, Fugitive Economic Offenders Act, 2018, obtaining certified copy of passport Prevention of Fraudulent Banking Practices The Ministry of Finance has taken number of steps to eliminate fraudulent banking practices. This was stated by Shri Anurag Thakur Minister …
Bank frauds detection and reporting increased due to Govt’s proactive measures – Finmin As per Finance Ministry due to Government’s proactive measures, there has been increased detection and reporting of bank frauds The above statement was given in response to Rajy Sabha Starred Question replied on 1.1.2019 by …
