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<p>A recent response to an RTI request revealed that public sector banks, in the first quarter of this financial year alone, lost nearly Rs 32,000 crore through 3,000 cases of fraud. This, after a record-breaking.<div class="itgimage"><amp-img src="https://ancillary-proxy.atarimworker.dev?url=https%3A%2F%2Fakm-img-a-in.tosshub.com%2Findiatoday%2Fimages%2Fbodyeditor%2F201909%2FUpfront-5-6-Pull-Quote-Sep23_7-x433.jpg%3FNE3ptk8huxQa61BtijLVlod_CQ8cYYR6%3Fsize%3D750:*" alt="" height="433" width="770" class="" layout="responsive"></amp-img>
<div class="body_caption">(Illustration by Tanmoy Chakraborty)</div>
</div></p><p>Rs 71,500 crore worth of fraud was reported in FY19. The finance ministry has claimed to be turning around the situation with non-performing assets, and announced unprecedented rates of loan recovery. Finance minister Nirmala Sitharaman, earlier this month, announced the mergers of several state-owned banks in a bid to create larger, stronger, more stable banks.</p><p>But, in a sluggish economy, with the slowest growth in six years, the mergers may dampen credit activity and get in the way of an economic revival. We'll also have to wait and see if larger banks have better mechanisms to cope with frauds and bad loans.</p><div id="tab-link-wrapper-plugin"><div class="authors__container"><div class="authors__by"><div class="authlable">Published By: </div><div class="authdetaisl">Shreya Sinha</div></div><div class="published__on"><div class="authlable">Published On: </div><div class="authdetaisl">Sep 13, 2019</div></div></div><div class="sendros">--- ENDS ---</div></div>

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<p>A recent response to an RTI request revealed that public sector banks, in the first quarter of this financial year alone, lost nearly Rs 32,000 crore through 3,000 cases of fraud. This, after a record-breaking.<div class="itgimage"><div class="itgimage"><img  height="433"  title=""  width="770"  class="" alt="" src="https://ancillary-proxy.atarimworker.dev?url=https%3A%2F%2Fakm-img-a-in.tosshub.com%2Findiatoday%2Fimages%2Fbodyeditor%2F201909%2FUpfront-5-6-Pull-Quote-Sep23_7-x433.jpg%3FNE3ptk8huxQa61BtijLVlod_CQ8cYYR6%3Fsize%3D750:*" loading="lazy" /></div>
<div class="body_caption">(Illustration by Tanmoy Chakraborty)</div>
</div></p><p>Rs 71,500 crore worth of fraud was reported in FY19. The finance ministry has claimed to be turning around the situation with non-performing assets, and announced unprecedented rates of loan recovery. Finance minister Nirmala Sitharaman, earlier this month, announced the mergers of several state-owned banks in a bid to create larger, stronger, more stable banks.</p><p>But, in a sluggish economy, with the slowest growth in six years, the mergers may dampen credit activity and get in the way of an economic revival. We'll also have to wait and see if larger banks have better mechanisms to cope with frauds and bad loans.</p><div id="tab-link-wrapper-plugin"><div class="authors__container"><div class="authors__by"><div class="authlable">Published By: </div><div class="authdetaisl">Shreya Sinha</div></div><div class="published__on"><div class="authlable">Published On: </div><div class="authdetaisl">Sep 13, 2019</div></div></div><div class="sendros">--- ENDS ---</div></div>

A recent response to an RTI request revealed that public sector banks, in the first quarter of this financial year alone, lost nearly Rs 32,000 crore through 3,000 cases of fraud.

India Today

Bank Frauds, Big and Small

The Series 3 fund will run for four years, with an option to extend by one more year. Investors will need to commit at least Rs 1 crore, which will be drawn in four parts of 25% each.

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The Tamil Nadu Green School Scheme, if extended across all government schools, was found to potentially reduce 91 per cent of electricity use in state institutions. The initiative not only focusses on energy savings but also targets student health and climate literacy through smart facilities and teacher training.

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On this Special Report, Shivani Giri discusses US President Donald Trump's renewed assertion that the United States intends to acquire Greenland. Trump has stated, 'It is time. It will be done now,' claiming that NATO has warned Denmark for two decades about the necessity of removing Russian influence from the region. The report highlights Trump's frustration with Denmark's perceived inaction regarding security threats in the Arctic. Furthermore, the US President has reportedly issued threats of tariffs against allies who oppose the Greenland plan, hinting at potential military considerations as the Arctic becomes a strategic priority. While some NATO nations remain divided, local protests in Greenland and opposition from Germany underscore the geopolitical friction caused by these statements. The programme explores the escalating tensions and the strategic importance of the Arctic in current international relations.

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In this report, Muneesh Pandey provides details on the Central Bureau of Investigation's (CBI) second and likely final round of questioning of TVK chief Vijay. The investigation pertains to a tragic stampede in Karur that resulted in the deaths of 41 people. Muneesh Pandey notes that 'CBI is in a process to file a charge sheet in the case' and is currently confronting Vijay with documentary evidence and statements from Tamil Nadu police officials. The probe focuses on why Vijay continued his speech for several minutes despite allegedly witnessing members of the public fainting due to dehydration. The transcript highlights a seven-hour delay in Vijay's arrival as a primary factor for the crowd build-up. While the TVK party blames the police for lack of arrangements, the Tamil Nadu police have submitted video footage to the CBI to fix accountability on the organizers and the TVK chief.

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On this Special Report, the focus is on the intensifying 'resort politics' in Maharashtra as the Mahayuti alliance maneuvers to secure the Mumbai mayoral post. Maharashtra Chief Minister Eknath Shinde has asserted that the 'mayor's chair is firmly in the Mahayuti's grip' and emphasized that the final decision will be made in consultation with the BJP. The transcript details the movement of 29 newly elected Shiv Sena corporators to a hotel to prevent poaching before formal group formation under the Mumbai Municipal Act. Reporter Vidya highlights that while Eknath Shinde is currently in Davos, backroom maneuvering continues in Kalyan-Dombivli and Mumbai. The programme analyzes various numerical scenarios, noting that while the Mahayuti holds a majority with 118 seats, any shift in alliance dynamics could alter the outcome. The report underscores the strategic importance of the upcoming gazette notification and the subsequent mayoral elections in the state's political landscape.

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On this report, the focus is on the International Cricket Council's (ICC) stern ultimatum to the Bangladesh Cricket Board regarding their participation in the upcoming T20 World Cup matches scheduled in India. Following internal government pressure and security concerns cited by Bangladesh, the ICC has clarified there are no legitimate security threats in India. The global cricket body has reportedly told Bangladesh to 'Play in India or get replaced' in the tournament. A deadline of Wednesday, 21st January, has been set for a final response. The programme discusses the tension between the two boards and the ICC's refusal to move matches, emphasizing that if Bangladesh refuses to travel, they will forfeit their points and be replaced by another team based on current ICC rankings. The report highlights the intersection of sports and politics as the deadline approaches.

ICC To Bangladesh: Play In India Or Be Replaced

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Bank Frauds, Big and Small

A recent response to an RTI request revealed that public sector banks, in the first quarter of this financial year alone, lost nearly Rs 32,000 crore through 3,000 cases of fraud.

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