-PTI CVC Commissioner says bankers need have no fear if their decisions are bonafide New Delhi: The Central Vigilance Commission (CVC) is supervising CBI's probe in 10 top bank fraud cases, including one involving fugitive businessman Vijay Mallya, and says bankers need have no fear if their decisions are bonafide. Vigilance Commissioner T M Bhasin told PTI that bankers need to "muster courage" to recover their money individually or collectively from defaulters. His assertion...
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Excluded by Aadhaar -Nikhil Dey & Aruna Roy
-The Indian Express Thousands of crores are supposed to have been saved in this massive anti-corruption drive, but not a single criminal case has been filed. It is delusional to celebrate the Aadhaar tidal wave, and criminal to turn a blind eye to hard facts about exclusion. Sita of Karkala village, Lassadiya Panchayat, was one of many who spoke at the annual MKSS Mazdoor Mela in Bhim on May 1. “I...
More »Norms to protect customer in fraudulent transaction soon: RBI
-PTI MUMBAI: Reserve Bank will soon come out with final guidelines on customer protection which would limit customers liability in case of unauthorised electronic banking transactions, RBI deputy governor S S Mundra said on Tuesday. Last year in August, RBI had issued draft circular on limiting liability of customers in case on fraudulent banking transactions, resulting in debits to their accounts or cards. RBI had asked comments and suggestions on the same. "Based...
More »Why Aadhaar cannot deliver anything it promises -Anupam Saraph
-The Economic Times Aadhaar came with a lot of promises. They were brought by some of the brightest in India. Aadhaar promises to remove duplicates and ghosts from government databases, deliver subsidies to beneficiaries, collect taxes, provide financial inclusion and eliminate corruption. Here is why it cannot deliver anything it promises. Aadhaar came with a lot of promises. They were brought by some of the brightest in India. Promise 1: Removing Fraud and Duplicates In...
More »Lax norms linked to banking fraud: CAG
-The Times of India NEW DELHI: Blaming weaknesses in the regulatory system as being the reason behind the rising cases of financial sector fraud, comptroller and auditor general (CAG) Shashi Kant Sharma on Friday drew attention to huge non-performing assets (NPAs) of public sector banks, a significant part of which could have been fraudulently obtained as advances by debtors and transferred abroad, from where they may never be recovered. The CAG also...
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