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
December 17,2025

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Melkar, Dec 17: The 17th Annual Day and Graduation Ceremony of Melkar Women’s PU and Degree College, themed “Fusion-2K25,” was celebrated with dignity and enthusiasm, marking a significant milestone in the institution’s academic journey. The programme reflected the college’s steadfast commitment to academic excellence, character building, and the holistic development of students.

The event was inaugurated by Mr. Asif Mohammed, whose presence greatly enriched the occasion. The celebration was further graced by the chief guests Mr. P. B. Ahmed Mudassir and Mr. Nissar Fakeer Mohammed, along with the distinguished guests of honour Mr. B. A. Nazeer and Mr. Ibrahim Gadiyar. In their inspiring addresses, the guests encouraged the graduating students and appreciated the dedicated efforts of the management, faculty, and students.

The annual report was presented by the Principal, Mr. Abdul Majeed S, highlighting the institution’s academic progress, notable achievements, and extracurricular accomplishments during the academic year.

The presidential address was delivered by the esteemed Chairman of Melkar Women’s PU and Degree College, Dr. Haji S. M. Rasheed, who emphasized the vital role of education in empowering women and shaping responsible citizens. He also stressed the importance of discipline, dedication, and perseverance in achieving success.

Cultural programmes and academic recognitions formed an integral part of the celebration, showcasing the talents and achievements of the students. The graduation ceremony was a proud moment for the outgoing students as they were formally conferred degrees and wished success in their future endeavours.

Ms. Mashmooma Fathima served as the Master of Ceremonies. The welcome address was delivered by Ms. Fathima Nida, and the programme concluded with a vote of thanks proposed by Ms. Ayisha Suhana.

The event successfully achieved its objectives and was highly appreciated by the guests and attendees.

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News Network
December 19,2025

Mangaluru: Public transport in Mangaluru is set for a state-led transformation as the government moves to deploy 100 new electric govt buses to replace unreliable private services. The initiative aims to provide a dependable alternative to private operators who have been frequently "cutting trips," leaving thousands of commuters stranded.

The announcement was made by Deputy Commissioner and MCC Administrator Darshan HV during a public phone-in session. The move specifically targets routes where private bus service has become erratic, ensuring that citizens no longer have to rely on a fluctuating private sector for their daily commute.

Restoring the Govt Presence

The transport crisis was brought to the forefront by Ramayya, a resident of Bajal, who highlighted a growing trend of private buses skipping morning and night trips. With the previous KSRTC (govt) services discontinued, residents have been left without a fallback option.

To fix this, the DC confirmed that the PM-eBus Sewa Scheme will bring 100 government-owned electric buses to the city:

•    Phased Deployment: The first 50 of the new 100 government buses are scheduled to arrive by March 2026.

•    State Infrastructure: Two new government depots, including one at Mudipu, are being prepared for operations.

•    Recruitment: The state has already begun training a new batch of government bus drivers to ensure the fleet is operational the moment it arrives.

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News Network
December 19,2025

Mangaluru: In a decisive move to tackle the city’s deteriorating sanitation infrastructure, the Mangaluru City Corporation (MCC) has announced a massive ₹1,200 crore action plan to overhaul its underground drainage (UGD) network.

The initiative, spearheaded by Deputy Commissioner and MCC Administrator Darshan HV, aims to bridge "missing links" in the current system that have left residents grappling with overflowing sewage and environmental hazards.

The Breaking Point

The announcement follows a high-intensity phone-in session on Thursday, where the DC was flooded with grievances from frustrated citizens. Residents, including Savithri from Yekkur, described a harrowing reality: raw sewage from apartments leaking into stormwater drains, creating a "permanent stink" and turning residential zones into mosquito breeding grounds.

"We are facing immense difficulties due to the stench and the health risks. Local officials have remained silent until now," one resident reported during the session.

The Strategy: A Six-Year Vision

DC Darshan HV confirmed that the proposed plan is not a temporary patch but a comprehensive six-year roadmap designed to accommodate Mangaluru’s projected population growth. Key highlights of the plan include:

•    Infrastructure Expansion: Laying additional pipelines to connect older neighborhoods to the main grid.

•    STP Crackdown: Stricter enforcement of Sewage Treatment Plant (STP) regulations. While new apartments are required to have functional STPs, many older buildings lack them entirely, and several newer units are reportedly non-functional.

•    Budgetary Push: The plan has already been discussed with the district in-charge minister and the Secretary of the Urban Development Department. It is slated for formal presentation in the upcoming state budget.

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