Minister Jitendra Singh Receives CVC’s Bank Frauds Analysis Report

The Central Vigilance Commission (CVC) formally handed over the Analysis Report of “Top 100 Bank Frauds” to an Indian minister Jitendra Singh in Delhi on Wednesday. The report was handed over by Vigilance Commissioners T.M. Bhasin and Sharad Kumar.

While discussing the salient features of the report, Jitendra Singh appreciated the exercise undertaken by the CVC and said that this documented report will serve as a reference material for policy planners, lawmakers, and researchers.

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Briefing about the report, Bhasin said the entire exercise was mainly inspired by the rising trend in bank frauds which has become a cause of concern at all levels. The CVC, he said, through this report has undertaken a review and analysis of Top 100 Bank Frauds in India, as on March 31, 2017.

The analysis of the top bank frauds included in the report mainly focuses on modus operandi, amount of money involved, type of lending, anomalies observed, loopholes that facilitated the fraud, etc.

Bhasin expressed the hope that this consolidated report will go a long way in reducing / obviating bank frauds in the country.

Photo courtesy: Press Information Bureau