21 PSBs lost Rs 25,775 crore to bank frauds in 2017-18: RTI
INDORE: Twenty-one public sector banks (PSBs) have incurred losses totaling 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 […]
RBI should reintroduce LoUs with safeguards: India Inc
MUMBAI: India Inc wants letter of undertaking (LoU), which was banned by the Reserve Bank of India (RBI) in the wake of the Rs 13,000-crore Punjab National Bank (PNB) fraud, back. The LoU ban has affected the industry, leading to a rise in the cost of credit, said Piruz Khambatta, President of Confederation of Indian Industry […]
