INDIAN BANKS – SCAM RIDDEN – WRITE OFF BAD LOANS OR NPA AND WRITE OFF OF LOANS OF PRIORITY SECTOR


Which is the affected group or sector or calss?

Honest, Hard working middle class, upper middle class and lower middle class comprising of small businessmen, workers, and employees of all sectors!!!

They pay the tax so that the Government can write off all loans to its fancy political dictum and financial fraud with the connivance of Bank officials and politicians.

ONLY Honest Hard Working – self-employed sector, employees, businessmen, artisans and farmers are very badly affected by the policies of the Government and the Politicians.

 

New Management Success Business Model !!! In India


This is the oldest ( Sure shot) success models – throughout the world – and fastest way to make loads of money and property.

Indians have learnt this model at the birth of the universe.

Money Need not be earned by hard and smart work.  Education is not required to be successful to make money. No New Business model or concept or formula required.

ALL THAT IS REQUIRED IS TO DUPE AND CHEAT the honest society.

One liquor baron absconding with Rs.9,000 crores, One Diamond businessman absconding with Rs.7,000 crores, Another Diamond businessman absconding with Rs.11,500 Crores and as on yesterday, a pen maker is alleged to have borrowed Rs.3,900 Crores.

THERE IS NO NEED TO STEAL OR ROB A BANK.

Be smart and borrow and declare insolvency or abscond!!!! There are bureaucrats and politicians to assist in this program along with media.

NEWEST OF THE ART AND OLDEST OF THE BUSINESS

SIMPLE AND TIME TESTED CONCEPT AND FORMULA.

Honesty is the straightway to poverty.

A press report – RBI Data Shows India’s Bank Fraud is As High As Rs. 60,000 Crore


Reserve Bank of India (RBI) data, which a Reuters reporter obtained through a right-to-information request, shows state-run banks have reported 8,670 “loan fraud” cases totalling Rs. 612.6 billion ($9.58 billion) over the last five financial years up to March 31, 2017.

 PNB recorded 389 cases of loan fraud totalling Rs. 65.62 billion over the last five financial years

  1. Punjab National Bank claims $1.77 billion fraud by Nirav Modi
  2. An RBI report shows 8,670 cases loan fraud cases in the last 5 years
  3. The loan frauds, reported by state-run banks, total over Rs.60,000 crores
 The central bank has recorded data that shows the problem runs far deeper and wider.

Reserve Bank of India (RBI) data, which a Reuters reporter obtained through a right-to-information request, shows state-run banks have reported 8,670 “loan fraud” cases totalling Rs. 612.6 billion ($9.58 billion) over the last five financial years up to March 31, 2017.

Loan frauds typically refer to cases where the borrower intentionally tries to deceive the lending bank and does not repay the loan.

The figures expose the magnitude of the problem in a banking sector already under pressure after years of poor lending practices. Bad loans surged to a record peak of nearly $149 billion last year.

Bank loan frauds have steadily increased as well, reaching Rs. 176.34 billion in the latest financial year from Rs. 63.57 billion in 2012-13, according to the data, which doesn’t include the PNB case.

One of the leading legal experts expressed that “This might be the tip of the iceberg or the middle, and that is the worry,” and “The fact is we don’t know what else is out there.”

The Reserve Bank of India,  in its Financial Stability Report, called frauds in banks and financial institutions “one of the emerging risks to the financial sector”.

“In a number of large value frauds, serious gaps in credit underwriting standards were evident,” the RBI said, adding that some of the gaps include lack of continuous monitoring of cash flows and cash profits, diversion of funds, double financing and general credit governance issues in banks.

The RBI has been commended for forcing Indian banks to fully disclose its bad loans, speed up their recovery, and stop hiding fraud cases as non-performing assets.

Yet to some critics, the RBI has, at the same time, been too guarded about publicly sharing data on loan defaults or fraudulent loans. This is partly due to legal constraints on disclosing individual cases and worries investors would pummel the affected banks, making loan recovery even harder.

India’s biggest lender, State Bank of India reported 1,069 loan fraud cases in the last five financial years but did not disclose the amount.

The magnitude of the bad debt in India forced the government last year to bail out the sector by pledging to inject $32 billion over this financial year and next.

Yet analysts and credit rating agencies have long warned that solving the bad debt at India’s banking sector needs to also involve wholesale reforms of the lending practices that led to the surge in bad loans.

Rs.26,000 Crores at Stake in Major Banks in India- Allegations of Fraud and Cheating against few businessmen


It is alleged that few businessmen have fraudulently availed loans with the connivance of the Bank Authorities and the enforcement agencies are investigating a major bank scam worth about Rs.11,500 Crores by one business men, in another scam, a business man siphoned off over Rs.6,000 Crore and in yet another major scam, another business man has been declared absconding by Indian Courts, who has taken a loan of about Rs.9,000 Crores from few Banks, thus bringing the lost amount to Rs.26,000 Crores.

Few private banks have stated that it need not disclose such discrepancy or the amount involved in fraudulent transactions.

 

 

COMMENCEMENT CERTIFICATES AND OCCUPANCY CERTIFICATES ISSUED BY CIVIC AGENCIES – ALLEGATION


A NEWS REPORT-

ALLEGATION BY MR.N.R.RAMESH.

COMPLAINTS LODGED BEFORE THE HONBLE LOKA AYUKTHA AND ANTI CORRUPTION BUREAU 

Over 90 percent of the apartments in the city have been issued with fake ‘commencement certificate’ and ‘occupancy certificate’ by corrupt officials of BBMP and BDA. Over 12 lakh apartment dwellers are under the fear of losing their flats, alleged N. R. Ramesh, BJP city unit president.

Producing related documents Mr Ramesh said, “I have already lodged a complaint with the Lokayukta and ACB about this scam. If the civic bodies had actually collected the revenue for issuing OCs and CCs to the 12 lakh apartment, shopping complexes, IT parks etc it would have earned Rs 8,000 crore.” 

As officials issued it illegally, civic bodies have earned only Rs 3,000 crores, he alleged and demanded that the 54 BBMP officials and 668 builders who have deliberately done this to evade taxes should be suspended and blacklisted.

There are 3,758 IT companies, 93 BT companies, 79 tech parks, more than 3,000 commercial complexes and 114 malls. In the city, there are over 22,500 apartments.

But in the last 8 years, the total number of CCs and OCs are just 2,660 and 1,438 respectively and over 90 percent of them are operating with illegal ones, Ramesh said.

BANK ATTACHED OR AUCTION PROPERTIES – WATCH OUT – BEWARE


There are innumerable advertisements in newspapers and on the internet regarding the attachment or taking over the possession of the properties, who have defaulted the repayments by financial institutions/banks and such properties are being auctioned by the financial institutions and the banks.

Some very interesting facts:

a. The deliberate default of the loan repayment – title defect?

YES.

Of late, there are too many properties being auctioned by the financial institutions.

Buyers or the Bidders are WARNED to conduct a thorough and diligent enquiry into the property titles and other related issues, before appearing or even thinking of bidding for auction.

There are agents/managers/banks- who market or sell this type of properties stating that the titles of the properties are VERY GOOD, as it had been attached or seized by the Banks.

 

 

BANGALORE GETS 160 KM OF URBAN TRANSPORTATION NETWORK WITH AN ESTIMATED OUTLAY OF RS.17000 CRORE IN 2018 UNION BUDGET


The Finance Minister Arun Jaitley has announced a proposal for a suburban network at an estimated cost of ₹17,000 crore “to cater to the growth of the Bengaluru metropolis”. The State Cabinet had, on Wednesday, approved investing 20% of the total project cost — ₹1,745 crore — over the next two years.

 

The project, to be partially elevated within core areas of the city, is expected to be implemented on a 50-50 ratio between the Centre and the State.