Bank Scams

Mumbai EOW files C summary in bank scam case against Dy CM Ajit Pawar

The court will decide whether to accept the report or direct the agency to continue the investigation and file a charge sheet

Cooperative bank scam: Congress accuses Left govt of deceiving investors

Attacking the Left government over the syphoning of funds from Karuvannur Cooperative Bank, the Opposition Congress on Wednesday accused Chief Minister Pinarayi Vijayan of not finding a solution to the problems of people who have invested their life's savings in the scam-hit financial institution. The party alleged that the Left government was protecting the looters and those who shared the plundered money from Karuvannur bank. The assurance given by the government that no investor in the scam-hit cooperative bank would lose their money was yet another bid to deceive them, Leader of Opposition in the State Assembly V D Satheesan said in a statement here. A day after Cooperation Minister V N Vasavan said in Kochi that the depositors of Karuvannur bank would get their money back at the earliest, Satheesan pointed out that the government had assured those who had invested up to one lakh rupees that it would return their deposits, but was silent about those people who had invested lakh

Probe into 17-yr-old bank 'scam' under BJP rule resumes: Chhattisgarh CM

Chhattisgarh Chief Minister Bhupesh Baghel on Monday said police have resumed probe into a 17-year-old "scam" in the Indira Priyadarshini Mahila Nagrik Sahakari Bank after a court in Raipur gave the go-ahead. The alleged irregularities of Rs 22 crore were unearthed in 2006 when the Bharatiya Janata Party was in power and 11 persons were arrested at the time, as per police. Promising stern action against those who had embezzled hard-earned money of account holders, the CM said, "The court has ordered for further investigation into it. Our police officials have been looking into case related files and will take further action accordingly. "The important thing is that labourers, farmers, small businessmen who had lost their hard earned money should get it back.The entire embezzled money will be recovered and returned to account holders," he added. The irregularities were unearthed when Raman Singh was chief minister and a narco test was also conducted on the accused but the probe did

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