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Bank fraud touches unprecedented Rs 71,500 cr in 2018-19: Reserve Bank

Agencies
June 3, 2019

New delhi, Jun 3: Over 6,800 cases of bank fraud involving an unprecedented ₹71,500 crore have been reported in 2018-19, the Reserve Bank of India has said.

A total of 5,916 such cases were reported by banks in 2017-18 involving ₹41,167.03 crore, it said.

As many as 6,801 cases of fraud were reported by scheduled commercial banks and select financial institutions involving an amount of ₹71,542.93 crore in the last fiscal (increase of over 73 per cent in the fraud amount), the Reserve Bank of India (RBI) said in reply to an RTI query filed by this PTI journalist.

In the last 11 fiscal years, a total of 53,334 cases of fraud were reported by banks involving a massive amount of ₹2.05 lakh crore, the central bank's data said.

During 2008-09, a total of 4,372 cases were reported involving an amount of ₹1,860.09 crore. In 2009-10, ₹1,998.94 crore worth fraud was reported in 4,669 cases.

A total of 4,534 and 4,093 such cases were reported in 2010-11 and 2011-12 involving ₹3,815.76 crore and ₹4,501.15 crore, respectively.

In the 2012-13 fiscal, 4,235 fraud cases involving ₹8,590.86 crore were reported by banks as against 4,306 cases (involving ₹10,170.81 crore) in 2013-14 and 4,639 cases (involving ₹19,455.07 crore) in 2014-15, the RBI said.

As many as 4,693 and 5,076 cases of fraud were reported in 2015-16 and 2016-17 involving ₹18,698.82 crore and ₹23,933.85 crore, respectively, it said.

"Cases of fraud reported to RBI are required to be filed by banks as criminal complaints with law enforcement agencies. The information in respect of action being taken or already taken is not available readily," the central bank said.

The data assumes significance as banks are grappling with high-profile fraud cases involving absconding billionaire Nirav Modi and liquor baron Vijay Mallya among others.

The large-scale fraud had prompted anti-corruption watchdog Central Vigilance Commission (CVC) to do an analysis and it came out with a report on top 100 frauds.

The analysis focussed on the modus operandi, amount involved, type of lending (consortium or individual), anomalies observed, loopholes that facilitated perpetration of the fraud concerned and the systemic improvement required to plug the gaps in the system and procedures.

The frauds were classified and analysed for 13 sectors, including gem and jewellery, manufacturing and industry, agriculture, media, aviation, service and project, discounting of cheques, trading, information technology, export business, fixed deposits, demand loan and letter of comfort.

The measures suggested by the CVC included strengthening standard operating procedures (SOPs) and the monitoring system, among others.

The CBI in 2018 booked top officials of two public sector banks, a former CMD of IDBI Bank, former Aircel promoter C Sivasankaran, his son and companies controlled by him in connection with a ₹600-crore loan fraud in the IDBI.

The investigative agency named 15 bank officials who worked at senior levels at the IDBI in 2010 and 2014 when loans were sanctioned to companies controlled by Sivasankaran, in its FIR registered on a complaint from the CVC.

Managing Director and CEO of Indian Bank, Kishor Kharat (who was then MD and CEO of IDBI Bank) and his counterpart in Syndicate Bank, Melwyn Rego (then deputy managing director in IDBI Bank) along with then Chairman-cum-Managing Director of IDBI Bank M S Raghavan, have been named in the latest FIR filed by the CBI.

Central agencies like the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) are also probing big-ticket bank fraud cases.

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News Network
February 7,2020

Mangaluru, Feb 7: In an attempt to promote menstrual hygiene among women, the Karnataka State Road Transport Corporation (KSRTC) has installed vending machines and incinerators to dispense and dispose off sanitary napkins at 10 bus stands of the state including Mangaluru.

The machines have been installed inside the women's washroom and women can purchase sanitary napkins from the vending machines by inserting five rupee coins.

Nearly 100 napkins can be stored in the vending machines at a time and housekeeping personnel have been instructed to replenish the stock, as and when required.

While directions on how to use the machine have been displayed near the machines, people can get seek assistance from housekeeping staff if needed.

Initially, the machines were installed at two depots in Bengaluru on a pilot basis and in the second phase it has been extended to 10 KSRTC bus depots.

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News Network
May 22,2020
Bengaluru, May 22: Evacuation planes from Male in Maldives and Doha in Qatar landed in Bengaluru with returnees from Karnataka after they were stranded for two months due to suspension of international flights since March 23 and the extended lockdown, an official said on Friday.
 
"An Air-India flight (#0266) with 152 passengers from Male and its subsidiary Express flight (IX-0822) with 177 returnees and 5 infants from Doha landed here safely at 6.50 pm. and 9.05 pm respectively," an airline official told media persons in Bengaluru.
 
Both the flights are first from their respective countries to Bengaluru, bringing in returnees to the southern state in the second phase of the Vande Bharat mission, being carried out to evacuate Indians stranded the world over.
 
"As per the standard operating procedure and guidelines of the state health department, all the passengers were screened with thermal device and tested to ensure they were asymptomatic before leaving the airport," a nodal officer said.
 
The returnees were given a spare mask to wear all the time and a sanitiser to wash their hands.
 
"The luggage of all passengers was screened and disinfected before handing over to them after they completed formalities such as filling the self-declaration form and downloading of the Quarantine App for contact tracing later,” said the official.
 
The passengers were ferried from the airport in state-run buses in batches for 14-day institutional quarantine in hotels and resorts across the city.
 
The flights were the 6th and 7th flights to Karnataka, of the national carrier and its Express arm, which are operating the service to repatriate thousands of Indians, including distressed workers, migrants, students, senior citizens and tourists, stranded overseas.
 
Five flights have flown about 650 returnees till date from May 18-21 under the mission's second phase to Bengaluru and Mangaluru on the west coast. The passengers have been brought from Dubai in the UAE, Kuala Lumpur in Malaysia, Muscat in Oman, Dammam in Saudi Arabia and San Francisco in the US.
 
The remaining flights to Karnataka will land in Bengaluru and Mangaluru over the next 12 days till June 3 from 9-10 more destinations the world over.
 
In the first phase of the mission from May 7-17, the airline and its arm flew 6 flights to the state from May 11-15, bringing in 800 passengers, including 623 to Bengaluru and 177 to Mangaluru from London, Singapore, San Francisco and Dubai.

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News Network
March 18,2020

Karnataka, Mar 18: Karnataka State Cricket Association (KSCA) has asked its administrative staff to work from home until further order amid coronavirus outbreak.

KSCA has taken various measures to mitigate the risk of spreading coronavirus. The association had already closed down all section of the sports centre and also given off to all the sports centre staff from March 14.

"Ksca had already closed down all section of the sports centre and also given off to all the sports centre staff w.e.f 14th March 2020. Further to that, now it is decided that most of the KSCA administrative staff will be working from home until further orders," KSCA Treasurer and official spokesperson Vinay Mruthyunjaya said in a statement.

"All the KSCA employees have been advised strictly to be at home and should not travel and be available on phones and mails. However skeleton staff will be deputed at KSCA to make sure ongoing works like grounds maintenance, regular maintenance etc., is not affected," he added.

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