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How banks can minimise losses from fraud


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swaminathankt kt
punitive action needed
by swaminathankt kt on Mar 26, 2018 11:05 AM

Bank managements knew fully well that many loans are not returnable, but they are sanctioned with "oiling the palms" of bank officials and management.

Why they care or should care for reseve bank ?


Unless punitive actions taken against erring officials who purposely err , why should they care ?

If confiscation of properties of such officials and management staff are effected, you will see the difference.

That is the only way out.

You can wake up a sleeping man but not the one who acts sleeping.

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Ashwin
Stop internal bank frauds
by Ashwin on Mar 22, 2018 11:52 PM

There are several instances of Bank Officials caught for wrong doings & served few yrs of jail & may be job lost. If he had made money thru clandestine deals, he will come out of jail &enjoy his tens of crores which he would never save in his life time. Hence such frauds keep going unchecked. Only way to stop such day light robbery with the involvement of Bank Staff, is to make both the Staff & borrower (if caught) must be made to clean the toilets of the bank alongwith their entire family members (through out their service and no promotion for life OR at least for 5 yrs if already retired) take away all their property. I am sure the most stubborn White collar thief will not dare think of taking such punishment. It is worst than Jail. In jail you see none of the colleagues but in Bank, all the employees will be seeing him clean toilets daily. We should not go soft on such White collar criminals.

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krishna gurumurthi
Bank
by krishna gurumurthi on Mar 21, 2018 05:33 PM  | Hide replies

Is there any correlation between banks and bankruptcy?

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chanakya maurya
Re: Bank
by chanakya maurya on Mar 21, 2018 08:30 PM
abrupt lending.

since alphabets a and b are already there they coined the word bankruptcy.

Basically the trio (the politician, the banker and the borrower) is morally bankrupt.

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R  ponnabalam
Re: Bank
by R ponnabalam on Mar 23, 2018 04:20 PM
There is always correlation between bank and loot of banks R.Ponnambalam

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krishna gurumurthi
Banks
by krishna gurumurthi on Mar 21, 2018 05:28 PM

Close

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brian crasto
nothing can be done about psu banks
by brian crasto on Mar 21, 2018 01:57 PM  | Hide replies

The psu banks are white elephants. the staff get their salaries and do not contribute to the organisation. thats why there is rot in the banking system

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krishna gurumurthi
Re: nothing can be done about psu banks
by krishna gurumurthi on Mar 21, 2018 05:33 PM
Simply commenting without any information

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arungopal agarwal
Banks
by arungopal agarwal on Mar 21, 2018 10:23 AM

They have reasonably controlled norms barring corrupt staff due to security of job upto retirement, even one can see many in PSU banks are not uptodate to convert banks into digital working or are very slow, govt. does not have a plan to compulsorily retire them early.
They need overhaul in HR side, due to organised unions, govt. is afraid of even to privatise them.


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