Free Press Journal
  • UIDAI, UIDAI allocation, Aadhaar, technology, business,

    Aadhaar can do little to stop banking frauds: Supreme Court to Centre

    New Delhi: The Supreme Court today observed that Aadhaar can do little to stop banking frauds and also questioned the Centre for asking the entire population to link their mobile phones with the unique identity card “just to catch a few terrorists”.

  • insurance-fraud-investigations

    Banking frauds: Dangerous culture of banking distrust

    Why is it a crime if an employee cheats the bank by opening fake Letters of Undertaking (LOUs) for Nirav Modi, but it is okay to fool a senior citizen into buying an insurance policy instead of a term deposit? Both are equally reprehensible, yet mis-selling of third-party products is routine banking that has official incentives.

  • insurance-fraud-investigations

    Banking frauds and eroding public trust

    On top of disgust with outright fraud is also the feeling of injustice and unfairness. Small borrowers and farmers are hounded for repayment while the big fish get away. So the need to restore trust is not only for reasons of efficiency but also to remove the perception that the system is unfairly tilted to favour the rich and mighty.

  • Nirav Modi to Vijay Mallya: India’s economic offenders who are on the run

    Celebrity jeweller Nirav Modi left India just days before the CBI started investigating him in connection with a Rs 11, 300 cr Punjab National Bank scam. Nirav Modi, his family members and business partner Mehul Choksi are accused of getting billions in credit from banks overseas after using PNB officials in Mumbai to issue fraud guarantees.

  • RBI

    RBI looks to check customer liability in banking frauds

    Mumbai: The Reserve Bank is examining limiting a customer’s liability in banking frauds and will soon put in place a framework for the same, Deputy Governor S S Mundra today said.

  • Banking sector frauds up by over 10%: Deloitte

    Mumbai :  The number of frauds in the banking sector have increased by more than 10% over the last two years, with retail banking witnessing highest number of incidents, says a report by consultancy firm Deloitte.