Topic: 5904 banks frauds in 3 months in India - page 6. (Read 2029 times)
You could classify this as a market refresh. After a revolution, for example, people work harder to get the minimum living requirements and that is healthy for the economy.
Banks have done this a long time for the average working for money, and they just take the results from them. This is very bad for the economy and it causes a very bad investment.
PNB Scam: 30 Banks Paid Out Funds Based On LoUs Issued By Punjab National Bank, Says Parliamentary Panel; Calls For Wider Probe
Some 30 banks are believed to have paid out funds based on letters of understandings (LoUs) issued by the Punjab National Bank (PNB) on behalf of billionaire diamantaire Nirav Modi, his uncle Mehul Choksi and their companies, a media report quoted a parliamentary report as saying. According to The Economic Times, the Parliamentary Standing Committee on Finance, headed by Congress member M Veerappa Moily, in a report, said that "international branches of many Indian banks including State Bank of India, Union Bank of India, Allahabad Bank, Axis Bank and some foreign banks, lent money to a particular entity or many entities or companies based on these alleged fraudulent guarantees."The committee is calling for a wider probe of the PNB scam. Modi, Choksi and their associates allegedly colluded with a few bankers to defraud PNB of Rs 12,646 crore, the country's biggest ever banking fraud.The committee's report also said that every SWIFT message should trigger an alert at the Reserve Bank of India (RBI). The SWIFT or the Society for Worldwide Interbank Financial Telecommunication is a network used by financial institutions to communicate financial transactions.
https://www.firstpost.com/business
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.
Yes, this is in news and government has started taking steps to prevent this. There is merger of banks planned in coming days.
When bank being fraud , it means that a lot of India's bureaucracy is not professional enough and of course they must responsible with people's money.
When people put their money on the bank, the bank must be verified but if the bank become the fraud , civilian have their right to get their money !
When people put their money on the bank, the bank must be verified but if the bank become the fraud , civilian have their right to get their money !
Indian Cricket team captain "Virat kohli" would endorse Punjab national bank
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Fraud is dangerous not only for the country's economy but also has a negative impact on the Bank's reputation.The fraud was carried out in the interests of several account holders.Other creditors may suffer as a result. Law enforcement authorities still do not know what loss it can bring to other branches.Can law enforcement agencies cancel these transactions?Does the Bank have the funds to cover the losses from these transactions and return this amount?
When bank being fraud , it means that a lot of India's bureaucracy is not professional enough and of course they must responsible with people's money.
When people put their money on the bank, the bank must be verified but if the bank become the fraud , civilian have their right to get their money !
When people put their money on the bank, the bank must be verified but if the bank become the fraud , civilian have their right to get their money !
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 ??
Yes.It will lead to the worst condition in India economy.The people in India are forced to pay.For this government of india had started the CGST.By this people of India going to pay additional taxes .If any one one from India,I suggest them to inverse in bitcoin instead of holding on useless banks.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 ??
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 ??
Do you mean how will this affect their economy?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 ??
This shows how venerable banking system can also be, hacking and fraud is not peculiar only to blockchain technology alone, personally i think government should embrace this technology, provide good atmosphere for it, improve on what is already on ground rather than allowing the media to manipulate it anyhow.
Terrible news, 5904 bank frauds? I am very difficult to believe it, but it is so sad, so bad the banking system in India, they can not provide security guarantee to the customers, it will be very disturbing economy in India, if this is not properly handled, then the customers will not trust the bank anymore.
Well, this is to show us that fraud activities do not only tuns or happens in the bitcoin or cryptocurrency only. I know that if that this event has anything to do with cryptocurrency, particularly bitcoin, the government would have painted it a very bad name by spread FUD which will cause another major dips in the price of bitcoin. I just hope they don't link this to bitcoin.
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 ??
2 billion dollars is not such a great sum to ruin the economy.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 ??
However, the whole trend seems to be threatening - with such a statistics Indian banks can easily lose their reputation.
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 ??
Yes.It will lead to the worst condition in India economy.The people in India are forced to pay.For this government of india had started the CGST.By this people of India going to pay additional taxes .If any one one from India,I suggest them to inverse in bitcoin instead of holding on useless banks. 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 ??
Well i think that was the worst economic fraud in the bank economic. The problem is when people are starting seeking return from goverment
There is a difference between first 3 months of 2018 and last financial year(12 consecutive months), the creator of this post has exaggerated the facts to make it more attractive. All the details have been revealed in the following tweet:
Last year, Indian media reported, Indian army carried out military operations across the border. After 2 days, Indian military replied "no military action happened"
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 ??
There is a difference between first 3 months of 2018 and last financial year(12 consecutive months), the creator of this post has exaggerated the facts to make it more attractive. All the details have been revealed in the following tweet:
https://twitter.com/CNBCTV18Live/status/1006473485982449669
Never the less the amount of fraud cases is immensely high and if the country need to develop they need to fix these loopholes asap. This will hit the economy of the country very badly as the pressure from world bank on country rises which creates pressure on the population of the country. The best solution could be to introduce blockchain technology in banks to have an independent system.
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 ??
Wow, It's a high amount of fraud banks in India I didn't know that. Of course, it's too bad for the economy if banks did some fraud activities, Furthermore the scammed amount is too high, so it will affect surely the economy there, I don't know why they did that because they work for their own country, It's a shameless thing to do.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 have done this a long time for the average working for money, and they just take the results from them. This is very bad for the economy and it causes a very bad investment.
Cristiano Ronaldo 'accepts a two-year suspended prison sentence and £16 million fine for tax evasion'
Neha Dhupia Reception: Neha Dhupia, Angad Bedi to THROW lavish party for Bollywood Friends FilmiBeatInside big celeb weddings Cristiano Ronaldo has accepted a £16million fine and a two-year suspended prison sentence for tax evasion in Spain - local media report.Ronaldo was accused by Spanish prosecutors in June last year of defrauding tax authorities of €14.8million (£13million.)
Ronaldo, often described as the 'best player in the world', originally denied the charges when they were brought against him last summer.The striker admitted a total of four tax offences on Friday after prosecutors agreed to significantly reduce the amount he was required to pay back from €14.7million to €5.7million.
https://www.msn.com/en-in/sports/football
Neha Dhupia Reception: Neha Dhupia, Angad Bedi to THROW lavish party for Bollywood Friends FilmiBeatInside big celeb weddings Cristiano Ronaldo has accepted a £16million fine and a two-year suspended prison sentence for tax evasion in Spain - local media report.Ronaldo was accused by Spanish prosecutors in June last year of defrauding tax authorities of €14.8million (£13million.)
Ronaldo, often described as the 'best player in the world', originally denied the charges when they were brought against him last summer.The striker admitted a total of four tax offences on Friday after prosecutors agreed to significantly reduce the amount he was required to pay back from €14.7million to €5.7million.
https://www.msn.com/en-in/sports/football
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 ??
Thanks for sharing this information now. As I’m doubtful of the motives of bank officials restrictions on cryptocurrency and this is the reason why. They cant even handle this obvious fraud activity what more they can do if scamming using blockchain technology will happen. And they surely want to divert the attention of the public from this multiple frauds and bitcoin is a big excuse, honestly it works.
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