Frauds Current Affairs - 2020

171 Hospitals de-empanelled under Ayushman Bharat Scheme

On January 3, 2020, around 171 hospitals were de-empanelled by Ministry of Health and Family Welfare for committing fraud. The Ministry had also imposed a fine of Rs 4.5 crores. The FIRs were lodged on 6 hospitals in Uttarakhand and Jharkhand states. Highlights The Anti-Fraud units detected fake e-cards and lodged FIRs in the corresponding Read More…

Central Equipment Identify Register: Government launches web portal to trace stolen mobiles

The Government of India on December 30, 2019, launched “Central Equipment Identify Register” portal to block and trace mobile phones. The web portal will operate under Department of Telecom. Highlights The CEIR portal has been established in order to address theft, security and other concerns. The portal will also hold database of IMEI numbers of Read More…

RBI Financial Stability Report: NPAs will increase

On December 27, 2019, RBI released Financial Stability Report. The report is biennial and reflects the collective assessment of the Sub-committee of Financial Stability and Development Council. The report said that the non-performing asset ratio of banks is increasing. It was 9.9% in September 2019 and may rise to 9.9% in September 2020. Highlights of Read More…

CVC constitutes Advisory Board for Banking Frauds

The Central Vigilance Commission (CVC) has constituted Advisory Board for Banking Frauds (ABBF) to examine bank fraud over Rs 50 crore and recommend action. It is reconstituted and rejigged version of erstwhile Advisory Board on Bank, Commercial and Financial Frauds. About Advisory Board for Banking Frauds (ABBF) Composition: Former Vigilance Commissioner T M Bhasin will Read More…

Credit Rating Model: Government testing big data system to aid banks assess credit risks

Ministry of Electronics and Information Technology (MeitY) is testing credit rating model, a new system that will assist banks in assessing credit risk and probability of fraud using big data analysis. The system is expected to help banks, particularly rural and cooperative banks, tackle the issue of rising nonperforming assets (NPAs). Currently, rural and cooperative Read More…