The matter turned worse when someone got a whiff of it and started blackmailing the officials. Hence, this withdrawal of money from the accounts continued and the money was used to pay the Udaipur-based individual as hush money so that the whole act can be kept under wraps, said the report.
1 min read14 Feb 2024Total fraud cases amounted to ₹45,598 core in 2021-22, shows the RBI data on trends and progress of banking in India. It is incumbent upon you to inform the bank immediately so as to get the refund
2 min read28 Dec 2023The RBI report highlighted the risks of fraud within the banking sector, including reputation and operational risks. Despite the surge in cases, the total number of reported frauds by banks declined to a six-year low.
1 min read28 Dec 2023Kashmiri man arrested for impersonating PMO official and Army doctor, cheating people and marrying multiple women in several states
1 min read17 Dec 2023The digital age has made financial transactions convenient but has also led to a significant increase in cyber fraud, with domestic payments fraud in India rising from ₹542.7 crore in FY 2021 to about ₹2537.35 crore in FY 2023.
2 min read24 Oct 2023Bank fraud: Strangers linked to customers' mobile numbers in multiple states
2 min read13 Oct 2023The Indian banking sector is facing a crisis, with 13 banks shutting down in recent years. This has raised concerns about the safety of your money. In this video, we will answer: Why Are Banks Suddenly Failing?, Why are banks failing?, U.S. Banks Keep Failing, Why Do Indian Banks Keep Failing?, Why are Indian Banks Failing?, The Secret Money Saving Rule, how to save money in banks, DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION, DICGC Insurance Coverage on Bank Account & Bank Deposit 5 Lakhs, What Is DICGC, Deposit Insurance and Credit Guarantee Corporation, Bank Security, Banking. Your money is insured up to ₹5 lakhs per depositor per bank, thanks to the Deposit Insurance and Credit Guarantee Corporation (DICGC). However, it's important to be aware of the types of deposits covered by DICGC and to diversify your deposits across multiple banks to reduce risks. So, choose your bank wisely and stay vigilant! Subscribe to Mint for more informative videos on personal finance and economics!
4 Sep 2023The ED has arrested the former chairman of Pune cooperative bank in a money laundering case
2 min read5 Jul 2023Zerodha CEO Nithin Kamath warns about new online frauds in India where fraudsters use the brand value of courier companies like FedEx, Blue Dart to scam victims
2 min read24 Jun 2023Treasury secretary argues that efforts to protect financial stability are incomplete
2 min read31 Mar 2023The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared