Topic: 5904 banks frauds in 3 months in India (Read 2029 times)
Fraud is very painful and maybe it will be the worst history in the Indian economy. And also, that will make customers afraid and might stop trusting the bank.
There have been 5904 bank frauds in India in first 3 months of 2018. Source CNBC TV18
The biggest bank fraud is Punjab National Bank (PNB) and billionaire Nirav Modi where PNB was scammed of $2,000,000,000 by Nirav Modi.
How is this for economics ??
The biggest bank fraud is Punjab National Bank (PNB) and billionaire Nirav Modi where PNB was scammed of $2,000,000,000 by Nirav Modi.
How is this for economics ??
Banks is back bone for economic and for growth. If banks dont have good data and untrusted, people will not trust the money printed by government because banks the backbone of economic growth. Banks system should be solid because its about people trust.
Today "YES bank" shares price are down -30%. Does this happen with banks ??
There have been 5904 bank frauds in India in first 3 months of 2018. Source CNBC TV18
The biggest bank fraud is Punjab National Bank (PNB) and billionaire Nirav Modi where PNB was scammed of $2,000,000,000 by Nirav Modi.
How is this for economics ??
The biggest bank fraud is Punjab National Bank (PNB) and billionaire Nirav Modi where PNB was scammed of $2,000,000,000 by Nirav Modi.
How is this for economics ??
fraud can happen anywhere, in India a form of fraud on a large scale can only occur if the perpetrators have relations with government officials, such things are very difficult to do by ordinary people, so law enforcement agencies must coordinate with the banking world, the effects for the Indian economy are clear bad impact especially infestor trust will go down, we have to divert our business by saving money in the form of bitcoin currency that has proven its security and can avoid fraud and inflation ..
Of course this is not good for economy at it will scared away the possible investors and depositors for the banks as fraud is one of the main causes of bankruptcy. The governments should improve their banking policies now to ensure that this fraud acts will not going to happen again.
Indian billionaire "Vijay Mallaya" scams banks of $1.4 billion
The extradition trial of Vijay Mallya, wanted in India on charges of Rs 9,000 crores fraud and money laundering, began on Monday at a UK court here, with the prosecution asserting that the embattled liquor baron had a case of fraud to answer. The trial, however, was briefly halted as the courtroom had to be evacuated due to a fire alarm. The 61-year-old tycoon and others waited outside the Westminster magistrates court during the fire drill. The trial began with the Crown Prosecution Service (CPS), arguing on behalf of the Indian government, presenting its opening arguments in the case which focused on loans totalling around Rs 2,000 crores sought by the erstwhile Kingfisher Airlines from a consortium of Indian banks.
https://www.businesstoday.in/current
I heard about this news and I think that government should take steps against this. It will take a lot of time though to correct the system.
The owner of bitconnect.com got arrested in India for $13 billion ponzi scheme using Bitcoins. Be careful of giant ponzi schemes.
is this the impact of the economic attack made by the United States, and if indeed that is the cause I worry about is the recurrence of the monetary crisis that occurred several years ago where almost all countries in the world experienced this which made many countries experience poverty due to the need for prices principal that has increased
There have been 5904 bank frauds in India in first 3 months of 2018. Source CNBC TV18
The biggest bank fraud is Punjab National Bank (PNB) and billionaire Nirav Modi where PNB was scammed of $2,000,000,000 by Nirav Modi.
How is this for economics ??
The biggest bank fraud is Punjab National Bank (PNB) and billionaire Nirav Modi where PNB was scammed of $2,000,000,000 by Nirav Modi.
How is this for economics ??
Of course this is not good for economy at it will scared away the possible investors and depositors for the banks as fraud is one of the main causes of bankruptcy. The governments should improve their banking policies now to ensure that this fraud acts will not going to happen again.
Ita is a bad news in india about i think .but now that is can to be better
Worst management from the Indian governments,they fell in each part and increase their crime rates after the Narendra Modi becomes the Prime minister of India.The lost amounts were collected from all the citizen by increasing the taxes to every products that people using everyday but they are getting no benefits from paying taxes to that country.So all the Indians need to think well before voting in the common elections of they want good future.
91 people died in queues outside ATMs and banks
On November 08, 2016, Indian Prime minister made a sudden announcement that Rs 500 and Rs 1000 currency notes will be invalid from November 09, 2016. The Indian government's plan was to destroy all black money/unpaid taxes hidden by Indians in cash in the form of Rs 500 and Rs 1000 notes.
Indian people were given time till November 23, 2016 to exchange the old currency notes at all the banks in India. So there were long queues outside Banks in India for depositing money and also for withdrawing money. I was in the queue at the bank for 2 hours and 30 minutes.
Later Indian Congress leader "Rahul Gandhi" said "91 people had died in queues outside banks and ATM's" which was the result of sudden announcement by PM Narendra Modi.
Prime Minister Narendra Modi is very proud of his actions
The money has changed several things and that is what affects the most.
Bitconnect owner arrested in India for $13 billion ponzi scheme
Darji and associates allegedly siphoned off about Rs 88,000 crore from gullible investors. This money was routed through his company called Bitconnect.com, launched around the time of demonetisation.
Main accused of Gujrat Bitcoin scam Divyesh Darji was arrested by police from Delhi Airport after his arrival from Dubai on Saturday. He is the Asia head of Ponzi scheme Bitconnect, registered in the UK and being operated from Burj Khalifa tower in Dubai.
http://www.dnaindia.com/india
Darji and associates allegedly siphoned off about Rs 88,000 crore from gullible investors. This money was routed through his company called Bitconnect.com, launched around the time of demonetisation.
Main accused of Gujrat Bitcoin scam Divyesh Darji was arrested by police from Delhi Airport after his arrival from Dubai on Saturday. He is the Asia head of Ponzi scheme Bitconnect, registered in the UK and being operated from Burj Khalifa tower in Dubai.
http://www.dnaindia.com/india
Worst management from the Indian governments,they fell in each part and increase their crime rates after the Narendra Modi becomes the Prime minister of India.The lost amounts were collected from all the citizen by increasing the taxes to every products that people using everyday but they are getting no benefits from paying taxes to that country.So all the Indians need to think well before voting in the common elections of they want good future.
During demonetization they said it will stop terrorist attacks by elemiinating their funding source but last month 5 Indian soldiers were killed by Pakistani army and Jammu and Kashmir does not look good.
What kind of country let’s scammers escape after taking such a huge amount of money ? It’s very bad. Such must be a very crazy country, because they know the person that did that, why not bring him to face the law ? Instead of him go just like that ? Or did they leave him just because he was a billionaire ? Because if it wasn’t a billionaire they would have caught him. I don’t blame the country, I’m actually blaming their government for letting such people go unpunished, unless they were really punished and the op didn’t mention that.
5904 banks means branches or India has that many different banking network ? If anyone clarify more information that would help to understand these better. I read in recent times about India's ban on crytpo exchanges to have bank accounts. Now, I guess that they are trading bitcoins in P2P way as many other country people have innovated that is the solution when government goes against them.
5904 banks means branches or India has that many different banking network ? If anyone clarify more information that would help to understand these better. I read in recent times about India's ban on crytpo exchanges to have bank accounts. Now, I guess that they are trading bitcoins in P2P way as many other country people have innovated that is the solution when government goes against them.
I'm betting that heads rolled after that fraud. But the thing i want to knownis that if that 2 Billion is in USD ot in rupees. I mean 2 billion is no joke even in any currency. But yeah, it actually has an impact on the currency it's under. It will also boost the gold because cash has plummeted. Lastly, it would definitely be a slap to the face of the security of that bank
I believe fraud in the world's banks is no stranger to the system being run by people so fraud is absolutely possible. That will be resolved if the blockchain technology is applied to the management and execution of transactions, it is very safe and fast. I also know that India is opening its door to blockchain technology in the banking industry and I hope it addresses the issue of fraud. The economics doesnt work over an one bank mate but it runs with different products and services within the country. The complex manufacture to end user processes and anything that create an employment within that process creates the liquid economic conditions within the country.
Whatever you stated here, the PNB bank and its fraud is just tiny part of whole system and it wont affect the national economics. What it will affect is the system and it will raise the question as to whether banks should simply trust big celebs like that or not and if yes then what precautions can be taken to avoid such scams.
In my opinion, all these actions are scripted and there is unity from above. A series of banks are showing fraudulent behavior that investors and users are concerned. And the main purpose is the huge profits from the investors and the community, which led them to do so. It will be difficult to handle these actions, but not necessarily without direction for us. I believe the community has a smarter way of handling them. Whatever you stated here, the PNB bank and its fraud is just tiny part of whole system and it wont affect the national economics. What it will affect is the system and it will raise the question as to whether banks should simply trust big celebs like that or not and if yes then what precautions can be taken to avoid such scams.
Note: See on the right side of each post (top right corner) there is "+Merits"
There have been 5904 bank frauds in India in first 3 months of 2018. Source CNBC TV18
The biggest bank fraud is Punjab National Bank (PNB) and billionaire Nirav Modi where PNB was scammed of $2,000,000,000 by Nirav Modi.
How is this for economics ??
So what the f*ck the merit plus can do to this post?erase that Note before DT see this and for sure they will find that you're asking for rig dude and punishment will be on to youThere have been 5904 bank frauds in India in first 3 months of 2018. Source CNBC TV18
The biggest bank fraud is Punjab National Bank (PNB) and billionaire Nirav Modi where PNB was scammed of $2,000,000,000 by Nirav Modi.
How is this for economics ??
And youre asking for merits for this damn post?that has no atleast supporting link about the issue?wath an attitude..
The economics doesnt work over an one bank mate but it runs with different products and services within the country. The complex manufacture to end user processes and anything that create an employment within that process creates the liquid economic conditions within the country.
Whatever you stated here, the PNB bank and its fraud is just tiny part of whole system and it wont affect the national economics. What it will affect is the system and it will raise the question as to whether banks should simply trust big celebs like that or not and if yes then what precautions can be taken to avoid such scams.
Whatever you stated here, the PNB bank and its fraud is just tiny part of whole system and it wont affect the national economics. What it will affect is the system and it will raise the question as to whether banks should simply trust big celebs like that or not and if yes then what precautions can be taken to avoid such scams.
Punjab National bank (PNB) share prices on stock market are Rs 80. Scammers at work ??
Can you cite this source (URL, video or something ...)? I still do not really trust this news. They cheat on others, then the Indian government is where?
The URL you need, here: https://www.c[Suspicious link removed]m/2018/06/19/internal-report-shows-lapses-at-bank-led-to-indias-huge-pnb-fraud.html
Because India is a densely populated country, the rate of corruption is high, and it is precisely because of the law that they are responsible for creating loopholes in illegal activities.
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