21 Public Sector Banks lost Rs 25,775 crore in bank frauds in 2017-18: RTI

Agencies
May 28, 2018

Indore, May 28: Twenty-one public sector banks (PSBs) have incurred losses totalling Rs 25,775 crore due to banking frauds in the financial year 2017-18, a Right to Information reply has stated.

The Punjab National Bank (PNB) had incurred the highest loss of Rs 6461.13 crore due to different cases of fraud during the fiscal that ended on March 31 this year, Chandrasekhar Gaud, who had filed the RTI with the Reserve Bank of India, said today.

He added that the reply, which was sent to him on May 15, did not specify details of any particular case of banking fraud.

One of the biggest banking frauds, allegedly involving diamond merchants Nirav Modi and Mehul Choksi and PNB officials, is being currently investigated by the Central Bureau of Investigation.

The investigating agency has filed two charge sheets in the special CBI court in Mumbai in connection with the Rs 12,636 crore PNB scam.

The RTI reply stated that the State Bank of India had, during this period, incurred losses of Rs 2390.75 crore due to various cases of banking fraud.

In the given period, the Bank of India had incurred a loss of Rs 2,224.86 crore, Bank of Baroda's losses stood at Rs 1,928.25 crore, Allahabad Bank at Rs 1,520.37 crore, Andhra Bank at Rs 1,303.30 crore and Uco Bank at Rs 1,224.64 crore.

The RTI reply informed that the IDBI Bank incurred losses of Rs 1,116.53 crore, Union Bank of India had losses of Rs 1,095.84 crore, Central Bank of India of Rs 1,084.50 crore, Bank of Maharashtra of Rs 1,029.23 crore and Indian Overseas Bank had incurred a loss of Rs 1,015.79 crore.

The RBI has clarified in the RTI that only those cases of fraud, involving a sum of over Rs 1 lakh, were included in the list.

It, however, did not disclose the numbers of cases or the nature of fraud.

Other banks, as per the RTI, that faced losses due to fraud during this period were Corporation Bank with a loss of Rs 970.89 crore, United Bank of India with Rs 880.53 crore, Oriental Bank of Commerce with Rs 650.28 crore and Syndicate Bank with Rs 455.05 crore.

Canara Bank at Rs 190.77 crore, Punjab and Sind Bank at Rs 90.01 crore, Dena Bank at Rs 89.25 crore, Vijaya Bank at Rs 28.58 crore and Indian Bank at Rs 24.23-crore made up the rest of the list provided by RBI as part of its RTI reply.

Economist Jayantilal Bhandari, commenting on the RTI, said that the condition of 21 PSBs of the country was "extremely worrisome" due to banking fraud.

Bhandari said, "With regard to fraud cases, the banks are not only facing huge economic losses, but the prospects of giving new loans by them in the future are also affected adversely. This situation is obviously not good for the economy."

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News Network
March 10,2020

New Delhi, Mar 10: A military transport aircraft of the Indian Air Force (IAF) brought back 58 Indians from coronavirus-hit Iran on Tuesday, official said.

The aircraft, a C-17 Globemaster, was sent to Tehran on Monday evening.

About 2,000 Indians are living in Iran, a country that has witnessed increasing numbers of coronavirus cases in the last few days.

"The IAF aircraft has landed. Mission completed. On to the next," External Affairs Minister S Jaishankar tweeted.

In an earlier tweet, he said, "First batch of 58 Indian pilgrims being brought back from Iran. IAF C-17 taken off from Tehran and expected to land soon in Hindon."

"Thanks to the efforts of our Embassy @India_in_Iran and Indian medical team there, operating under challenging conditions. Thank you @IAF_MCC. Appreciate cooperation of Iranian authorities. We are working on the return of other Indians stranded there (sic)," Jaishankar added.

The aircraft landed at Hindon airbase in Ghaziabad, from where the passengers were take to a medical facility.

According to latest reports, 237 people have died of novel coronavirus in Iran while the number of positive cases stands at around 7,000.

It is the second such evacuation by the C-17 Globemaster in the last two weeks.

On February 27, 76 Indians and 36 foreign nationals were brought back from the Chinese city of Wuhan by the aircraft of the Indian Air Force.

The C-17 Globemaster is the largest military aircraft in the IAF's inventory. The plane can carry large combat equipment, troops and humanitarian aid across long distances in all weather conditions.

Four days ago, a Mahan airline plane brought swab samples of 300 Indians from Iran to India.

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News Network
June 22,2020

New Delhi, Jun 22: The Delhi Police Monday urged the Delhi High Court to grant them a day’s more time for seeking instructions on a plea by Jamia student Safoora Zargar, who was pregnant and arrested under the anti-terror law --UAPA--, seeking bail in a case related to communal violence in northeast Delhi during protests against the Citizenship Amendment Act in February.

Justice Rajiv Shakdher, who conducted the hearing through video conferencing, allowed the request after Zargar’s counsel said she has no objection to it and listed the matter for Tuesday.

Zargar, M Phil student of Jamia Millia Islamia University, is more than four months pregnant.

During the hearing, Solicitor General Tushar Mehta, representing the Delhi Police, sought a day’s time to take instructions on the issue and said it will be in “larger interest” if he is given indulgence.

Additional Solicitor General (ASG) Aman Lekhi also joined Mehta and said they are ready with the arguments on merits of the case but they do not intend to proceed on merits at this stage.

Advocate Nitya Ramakrishnan, appearing for Zargar, said the woman is in a delicate state and is in a fairly advanced stage pregnancy and if the police need time to respond to the plea, she be granted interim bail for the time being.

The high court asked Solicitor General (SG) Tushar Mehta to come back with instructions on Tuesday.

The police has also filed a status report in response to the bail plea.

Jamia Coordination Committee member Zargar, who was arrested by the Special Cell of Delhi Police on April 10, has challenged in the high court the June 4 order of the trial court denying her bail in the case.

The hearing in the high court also witnessed exchange of words between Mehta, Lekhi on one side and Delhi government standing counsel (criminal) Rahul Mehra who objected the appearance of the two senior law officers on behalf of Delhi Police in the case.

Mehra contended that unlike another North East Delhi violence matter in which requisite approval was sought by the Delhi Police to be represented by a team of lawyers led by the Solicitor General, no such procedure was followed in this case.

"They know that my view in such cases will be more humanitarian and not as per their whims and fancies. I am not supposed to be the mouth piece of the Delhi Police, I am an officer of the court," he said.

Lekhi shot back "a client chooses the lawyer and a lawyer cannot impose himself on the client.

He said this controversy would deviate the court from the issue in hand and Mehra's objection can be kept aside in this case.

The high court concluded the hearing, asking the counsel for Delhi Police to sort out their battles by tomorrow.

 The trial court, in its order, had said “when you choose to play with embers, you cannot blame the wind to have carried the spark a bit too far and spread the fire.”

It had said that during the course of investigation a larger conspiracy was discernible and if there was prima facie evidence of conspiracy, acts and statements made by any one of the conspirators, it is admissible against all.

The trial court had said that even if there was no direct act of violence attributable to the accused (Zargar), she cannot shy away from her liability under the provisions of the Unlawful Activities (Prevention) Act (UAPA).

However, the trial court had asked the concerned jail superintendent to provide adequate medical aid and the assistance to Zargar.

The police had earlier claimed that Zargar allegedly blocked a road near Jaffrabad metro station during the anti-CAA protests and instigated people that led to the riots in the area.

It further claimed that she was allegedly part of the “premediated conspiracy” to incite communal riots in northeast Delhi in February.

Communal clashes had broken out in northeast Delhi on February 24 after violence between citizenship law supporters and protesters spiralled out of control leaving at least 53 people dead and scores injured.

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News Network
April 7,2020

Jammu, Apr 7: Old habits will just no longer do, a Jammu and Kashmir administration employee found to his dismay on Tuesday when he was sent to a quarantine centre for blowing his nose and spitting on the road.

The man, who works as an accountant in the civil secretariat here, had gone to meet a relative in Paloura on the outskirts of the city when he was nabbed, officials said.

The neighbours panicked when they saw him blowing his nose and immediately called the police, which rushed to the spot with a medical team and a magistrate, they said.

He was immediately taken to a quarantine facility set up at the IIT hostel in the Janipur area and his samples taken for a coronavirus test.

Given the high levels of anxiety over the spread of COVID-19, news of his being taken by police started circulating widely. There were also some WhatsApp messages that he was trying to deliberately spread the infection and was arrested by police.

However, police officials said they had not arrested him and merely put him in a quarantine centre. It was not clear how long he would be in the centre.

The employee told police officials he had an itch in his nose and nothing more.

"Be responsible citizens and stop spreading rumours or fake news," an official said, requesting people to be more responsible.

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