scorecardresearch
Add as a preferred source on Google
Thursday, December 18, 2025
TopicBank Fraud

Topic: Bank Fraud

ED moves court against Sterling Biotech promoters in Rs 8,100-cr bank loan fraud

ED files plea before a special court calling for Sterling Biotech group promoters to be declared as fugitives.

ED files 5th chargesheet in Sandesara fraud but no mention of CBI No. 2 Asthana so far

Rakesh Asthana’s name appeared in the Sterling Biotech diaries seized in 2011, but it has not been mentioned in five prosecution complaints filed so far.

Nirav Modi needn’t worry. ED has a terrible record nailing money laundering

Under money laundering Act, Enforcement Directorate has 3 convictions in 13 years — involving amounts from Rs 4 crore to Rs 3 lakh. 

After Mallya, Lalit & Nirav Modi, new billionaires on fugitive row — Sandesaras of Gujarat

ED, CBI booked the Sandesaras in a Rs 5,000-crore bank fraud case, which is also linked to a CBI turf war involving two top officers.

A 2016 affidavit filed in Gujarat HC had warned about Mehul Choksi’s escape from India

The affidavit says Choksi is a "most intelligent and powerful influential identity and has hired a whole legal team for the purpose of doing systematic fraud".

Scandals, bad debts at Indian banks threaten economic outlook

India’s nearly $1.7 trillion formal banking sector is coping with $210 billion of problem loans, and some regional banks have been ensnared in fraud scandals.

Punjab National Bank discussed fraud prevention in 2016, but didn’t introduce safeguards

A report to the central government says Punjab National Bank had debated putting in place safeguards to prevent fraud in 2016, but put no systems in place. 

We have not seen the last of bank scams. Put the entire diamond industry under the scanner

Though Rs. 11,000 crores is a large number, it is not a single credit or operations risk event but a bubble built over years. 

TalkPoint: Is it impossible to fix India’s disastrous PSU banks?

Experts weigh in on the astounding 11,000 crore fraud in Punjab National Bank and how it reflects on the state of public sector banks in India.

On Camera

MGNREGA was democratic state-building. VB-GRAMG turns welfare back to mai-baapism

MGNREGA empowered citizens to engage the state on equal terms. VB-GRAMG recasts them as labharthis, who must prove eligibility to receive the largesse of a benevolent leader.

Steady growth rooted in ‘Dravidian model’. How Tamil Nadu more than doubled its GSDP in 10 yrs

RBI Handbook of Statistics shows state’s GSDP has more than doubled in past decade, finishing second behind Maharashtra. It has performed well across health & education parameters as well.

Israel has ‘realised who its real friend is’, eyes defence expansion in India amid arms curbs by others

It is argued that India-Israel ties are moving from buyer–seller dynamic to one focused on joint development & manufacturing partnership, a shift 'more durable' than traditional arms sales.

India’s top airline just handed sarkar the keys. That’s IndiGo’s real ‘crime’

Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.