:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

BANKS LOST OVER RS.5500 CR. TO FRAUD IN LAST FOUR FISCALS

The banking sector has lost a whooping Rs 5,517 crore due to frauds in the last four fiscals, the highest loss in the last four fiscals was Rs.1883 crore in 2008-09. As per some estimates the banking sector has lost as much as Rs 1,381 crore, Rs 1,194 crore, Rs 1,059 crore, and Rs 1,883 crore during 2005-2006, 2006-2007, 2007-2008 and 2008-2009 respectively which involved nearly 733 frauds of Rs one crore and above.



Besides, the traditional loans and advances and the frauds in electronic payments are also on the increase. The technology-driven payments like Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), credit cards, ATM transactions, cell banking and internet banking are also showing glimpses of frauds.


Posted by C.B.O.A., A.P.

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