SBI sought issuance of 147 Look Out Circulars in last five month: RTI
5 years, 4 months ago

SBI sought issuance of 147 Look Out Circulars in last five month: RTI

Live Mint  

The Country's largest public sector bank -- State Bank of India -- sought issuance of 147 Look Out Circulars in the last five months in connection with bank fraud cases, an RTI response from the bank said. Although top officials of public sector bank were empowered last year to seek issuance of LoC against individuals, relevant guidelines were framed by the Indian Banks' Association in March this year, the Association told Durve. However, State Bank of India in its response to Durve said it has sought issuance of 147 Look Out Circulars while Union Bank of India replied the information was not in its domain. In FY19, the banking sector reported 6,801 frauds involving ₹71,542.93 crore as against 5,916 cases involving ₹41,167.04 crore reported in 2017-18, the Reserve Bank of India has said in its latest report.

Bank Public Sector Banks Sector Banks Loc Issuance Locs Look Out Circulars Durve 147 Look Out Circulars  look  147  reported  public  loc  sought  frauds  issuance  rti  month  ministry  sector  circulars  sbi  banks  bank  crore

History of this topic

SBI Q1 2024-25 results: Net profit up 5.04%, net NPAs down by 6.26%, ₹25,000 crore bond fundraise approved
5 months ago

SBI Q1 2024-25 results: Net profit up 5.04%, net NPAs down by 6.26%, ₹25,000 crore bond fundraise approved

Hindustan Times  

State Bank of India Ltd has announced its first quarter results for the financial year 2024-25 on Saturday, August 3, 2024 and its board has also approved a ₹25,000 crore fundraising through bonds. SBI recorded a net profit of ₹19,680.80 crore in Q1 2024-25, an increase of 5.04% or ₹944.85 crore, compared to ₹18,735.95 crore during Q1 2023-24 or the …

SBI to raise ₹50k crore via debt instruments
1 year, 7 months ago

SBI to raise ₹50k crore via debt instruments

Live Mint  

State Bank of India on Friday said its board has approved a proposal to raise up to ₹50,000 crore this fiscal year through various debt instruments. India’s largest bank intends to raise the funds by issuing long-term bonds, Basel III-compliant Additional Tier 1 bonds, and Basel III-compliant Tier 2 bonds, in private placements to either Indian or overseas investors, subject …

CBI registers case against IL&FS subsidiary for defrauding 19 banks of Rs 6,524 cr
1 year, 7 months ago

CBI registers case against IL&FS subsidiary for defrauding 19 banks of Rs 6,524 cr

India TV News  

New Delhi: The Central Bureau of Investigation has filed a case against IL&FS Transportation Network Ltd and its directors for allegedly defrauding 19 banks of Rs 6,524 crore between 2016 and 2018, officials said on Friday. The accused persons are white colour criminals and very well know the intricacies of the law and know to save themselves from the clutches …

₹11-crore coin fraud case: CBI searches 5 locations in Punjab’s Faridkot
1 year, 8 months ago

₹11-crore coin fraud case: CBI searches 5 locations in Punjab’s Faridkot

Hindustan Times  

Central Bureau of Investigation on Thursday conducted searches at five locations in Faridkot district’s Jaitu subdivision in connection with an alleged fraud case wherein coins worth ₹11 crore had gone missing from the vaults of a State Bank of India branch in Rajasthan’s Karauli. Central Bureau of Investigation on Thursday conducted searches at five locations in Faridkot district’s Jaitu subdivision …

SBI to consider $2 billion fundraising in FY24 via senior unsecured notes
1 year, 8 months ago

SBI to consider $2 billion fundraising in FY24 via senior unsecured notes

Live Mint  

The largest public sector lender in the country, State Bank of India on Monday announced its plan to raise up to $2 billion for the financial year FY24 through the issuance of senior unsecured notes. It added, the board is meeting to "examine the status and decide on long-term fundraising in single/multiple tranches of up to $ 2 billion., through …

SBI raises ₹3,717 crore via additional tier 1 bonds
1 year, 10 months ago

SBI raises ₹3,717 crore via additional tier 1 bonds

The Hindu  

The State Bank of India, said it has raised ₹3,717 crore through its third Basel III compliant Additional Tier 1 bond issuance in the current financial year at a coupon rate of 8.25%. The proceeds will be utilised for augmenting Additional Tier 1 Capital and the overall capital base of the bank and strengthening capital adequacy in accordance with RBI …

Govt extends tenure of SBI MD Setty by 2 years
1 year, 11 months ago

Govt extends tenure of SBI MD Setty by 2 years

Live Mint  

The government has extended the term of State Bank of India Managing Director Challa Sreenivasulu Setty by two years with effect from January 20. In a regulatory filing, SBI said the government issued a notification to this effect on January 10. the central government hereby extends the term of office of Shri Challa Sreenivasulu Setty, Managing Director, State Bank of …

Rajasthan: Coins worth Rs 11 crore missing from SBI vaults, CBI launches probe
2 years, 4 months ago

Rajasthan: Coins worth Rs 11 crore missing from SBI vaults, CBI launches probe

Firstpost  

The matter came to light after SBI Karauli branch decided to count the money after a preliminary enquiry indicated discrepancy in its cash reserve New Delhi: The CBI on Thursday conducted searches at 25 locations in connection with a case of coins worth Rs 11 crore going missing from the vaults of an SBI branch in Karauli in Rajasthan, officials …

CBI registers case against Hyderabad private company for Rs 218 crore SBI loan fraud
2 years, 11 months ago

CBI registers case against Hyderabad private company for Rs 218 crore SBI loan fraud

India Today  

The Central Bureau of Investigations has registered a fraud case against a Hyderabad-based firm for allegedly committing bank fraud worth over Rs 218 crore. The CBI registered a case against a private company based at Ameerpet in Telangana’s Hyderabad and others, including its managing director, a director & unknown public servants and private persons. The complaint alleged that the private …

'SBI Can't Misinterpret RBI Circulars'- Madras High Court Holds Collection of Cash Handling Charges From Stamp Vendors Illegal
3 years, 1 month ago

'SBI Can't Misinterpret RBI Circulars'- Madras High Court Holds Collection of Cash Handling Charges From Stamp Vendors Illegal

Live Law  

The practice of collecting cash handling charges from stamp vendors who deposit money through treasury challans into the Government account must be done away with, Madras High Court has ruled recently, giving strict directions to the State Bank of India. "In the absence of any such specific direction or instructions from the Reserve Bank of India, the State Bank of …

SBI collects Rs 300 crore from zero balance accounts for certain services in 5-year: Study
3 years, 8 months ago

SBI collects Rs 300 crore from zero balance accounts for certain services in 5-year: Study

India TV News  

Several banks, including State Bank of India, have been imposing excessive charges on certain services provided to poor persons having zero-balance or Basic Savings Bank Deposit Accounts, a study by the IIT-Bombay has revealed. The study observed that the SBI's decision to levy a charge of Rs 17.70 for every debit transaction beyond four by the BSBDA account holders cannot …

CBI registers about 190 cases of bank fraud in 2020
4 years ago

CBI registers about 190 cases of bank fraud in 2020

The Hindu  

The Central Bureau of Investigation registered about 190 cases of bank fraud in year 2020, involving alleged misappropriation of close to ₹60,000 crore. Surana Corporation case Another entity that made it to the list was Surana Corporation Limited, which along with others was booked in October for allegedly cheating six banks of ₹2.930 crore. In February, the agency had registered …

Bank fraud! CBI files chargesheet against 24 accused for alleged loss of over Rs 297 crore to various banks
4 years ago

Bank fraud! CBI files chargesheet against 24 accused for alleged loss of over Rs 297 crore to various banks

India TV News  

The Central Bureau of Investigation has today filed a chargesheet before Special Judge for CBI cases, Mumbai against 24 accused including a private company based at Mumbai, its director, Chartered Accountant, then officials of Indian Overseas Bank, Directors/proprietor of associated companies/firms etc for causing an alleged loss of Rs 297.80 crore to the bank. Out of these nationalized banks, Indian …

SBI, Punjab and Sind Bank allegedly cheated of over Rs 131 crores; CBI registers cases
4 years ago

SBI, Punjab and Sind Bank allegedly cheated of over Rs 131 crores; CBI registers cases

India TV News  

The State Bank of India and Punjab and Sind Bank have been allegedly cheated of over Rs 131 crores in two separate cases of fraud. The first case was registered on a complaint from SBI against a private company based in Gujarat's Ahmedabad and others including directors, public servants, and unknown others on the allegations of cheating the State Bank …

CBI Raids Several Locations in 2 Separate Bank Fraud Cases Worth Rs 1,000 Crore
4 years ago

CBI Raids Several Locations in 2 Separate Bank Fraud Cases Worth Rs 1,000 Crore

News 18  

The Central Bureau of Investigation on Friday carried out searches at several locations in Hyderabad, Guntur and Tamil Nadu in connection with two separate cases of bank frauds involving amounts to the tune of Rs 7,926.01 crore and Rs 313.79 crore respectively, officials said. A CBI official said that the agency has registered a case against Hyderabad-based Transstroy Ltd, its …

Over Rs 8,000 crore bank fraud! SBI, Canara Bank register complaint against private firms
4 years ago

Over Rs 8,000 crore bank fraud! SBI, Canara Bank register complaint against private firms

India TV News  

The Central Bureau of Investigation has registered two separate cases related to bank fraud to the tune of Rs. The first case has been registered against a Hyderabad-based private company and others including its CMD, Additional Directors, unknown public servants and others on a complaint from Canara Bank. It was also alleged that the accused misappropriated bank's funds and diverted …

More Than 84,500 Bank Fraud Cases Reported During 2019-20, Says RBI in Reply to RTI
4 years, 5 months ago

More Than 84,500 Bank Fraud Cases Reported During 2019-20, Says RBI in Reply to RTI

News 18  

Around 84,545 fraud cases – involving about Rs 1.85 lakh crore – were reported by scheduled commercial banks and select FIs during 2019-20, an RTI activist said, citing information received from the Reserve Bank of India. Kolarkar in his RTI query sought to know how many fraud cases have taken place during April 1, 2019 to March 31, 2020 and …

After CBI, ED probes BJP leader Mohit Kamboj in Bank of India cheating case
4 years, 5 months ago

After CBI, ED probes BJP leader Mohit Kamboj in Bank of India cheating case

India Today  

The Enforcement Directorate is now investigating BJP leader Mohit Kamboj and seven others in a case pertaining to a loan of Rs 67 crore from the Bank of India. The CBI had last month registered a case against Kamboj, four others on charges of cheating, forgery and criminal conspiracy in relation to the Bank of India cheating case. According to …

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore
4 years, 6 months ago

CBI books Delhi-based private firm for defrauding SBI, PNB of Rs 398 crore

India Today  

The Central Bureau of Investigation has conducted searches in the national capital in connection with a bank fraud case of Rs 398 core. The two biggest lenders of country, State Bank of India and Punjab National Bank, have been defrauded to the tune of Rs 398 crore, said the agency. On the complaint of SBI, the federal probe agency booked …

SBI complains to CBI after Rs 411 cr loan defaulters flee country; account had become NPA in 2016
4 years, 8 months ago

SBI complains to CBI after Rs 411 cr loan defaulters flee country; account had become NPA in 2016

Firstpost  

Besides SBI, other members of consortium are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank, they said. New Delhi: Three promoters of Ram Dev International, recently booked by the CBI for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, have already fled the country before the State Bank …

SBI complains to CBI after ₹411 crore loan defaulters flee country
4 years, 8 months ago

SBI complains to CBI after ₹411 crore loan defaulters flee country

The Hindu  

Three promoters of Ram Dev International, recently booked by the CBI for allegedly cheating a consortium of six banks to the tune of ₹411 crore, have already fled the country before the State Bank of India reached the agency with the complaint, officials said on Saturday. The CBI had recently booked the company engaged in export of Basmati rice to …

18 PSBs hit by 2,480 cases of fraud of ₹32,000 crore in Q1: RTI
5 years, 4 months ago

18 PSBs hit by 2,480 cases of fraud of ₹32,000 crore in Q1: RTI

Live Mint  

Indore: A total of 2,480 cases of fraud involving a huge sum of ₹31,898.63 crore rattled 18 public sector banks in the first quarter of this fiscal, an RTI query has revealed. Punjab National Bank stood third in the list with 99 sham cases worth ₹2,526.55 crore. A total of 75 cases of fraud involving ₹2,297.05 crore were reported in …

To cut costs, SBI may rethink role of branches
5 years, 8 months ago

To cut costs, SBI may rethink role of branches

Live Mint  

State Bank of India is planning to optimise costs by rethinking the role of branches to see what activities and processes currently performed there can be centralised. As part of the exercise, the nation’s largest lender will appoint a consultant to suggest strategies to optimize balance sheet and maximize return on asset and pre-provisioning operating profit, a document seeking bids …

CBI 'lookout' notice against Bhushan Steel top officials
5 years, 8 months ago

CBI 'lookout' notice against Bhushan Steel top officials

The Quint  

New Delhi, April 24 The CBI has issued a Look Out Circular against Bhushan Steel Chairman Sanjay Singhal and his wife and Vice Chairman Aarti Singhal in connection with its investigation in a case of cheating in loans worth Rs 2,348 crore against them, official sources said on Wednesday. According to the sources, immigration authorities at all airports and entry-exit …

SBI gets board approval to raise up to $2.5 billion in bonds
5 years, 8 months ago

SBI gets board approval to raise up to $2.5 billion in bonds

Live Mint  

Mumbai: The State Bank of India Wednesday said its board has given its approval to raise up to $2.5 billion through bonds in FY20. In a statement issued Wednesday, SBI said the board has approved “long-term fund raising in single/multiple tranches up to $2.5 billion under Reg-S/144A, through a public offer and/or private placement of senior unsecured notes in US …

Discover Related