{"id":22118,"date":"2020-09-15T11:44:49","date_gmt":"2020-09-15T11:44:49","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=22118"},"modified":"2020-09-15T11:44:49","modified_gmt":"2020-09-15T11:44:49","slug":"38-persons-flee-india-after-committing-bank-frauds","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=22118","title":{"rendered":"38 persons flee India after committing bank frauds"},"content":{"rendered":"<p><\/p>\n<div id=\"\"><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/09\/bank-fraud.jpg\" alt=\"bank frauds, 38 persons flee India after bank frauds, CBI, economic offence\"\/><noscript><img decoding=\"async\" src=\"https:\/\/images.financialexpress.com\/2020\/09\/bank-fraud.jpg\" alt=\"bank frauds, 38 persons flee India after bank frauds, CBI, economic offence\"\/><\/noscript><span class=\"article-caption\">Applications under the Fugitive Economic Offenders Act, 2018 were filed against 11 persons. (Bloomberg image)<\/span><\/p>\n<p>The Central Bureau of Investigation (CBI) has informed that as much as 38 persons have fled India after committing bank frauds in the five years to 2019. Further, the Enforcement Directorate apprised that application for Red Corner Notices was filed against 20 persons under the Prevention of Money Laundering Act, 2002, and extradition requests were sent in respect of 14 persons to various countries. Also, applications under the Fugitive Economic Offenders Act, 2018 were filed against 11 persons, Anurag Thaur, MoS, Ministry of Finance, said in a reply to a question in Lok Sabha.<\/p>\n<p>The government said that various policy measures have been taken for deterring, preventing, and taking effective action against business persons fraudulently obtaining loans and fleeing the country. These include the enactment of the Fugitive Economic Offenders Act, 2018, which provides for attachment of property of a fugitive economic offender, confiscation of his property, and disentitling him from defending any civil claim.<\/p>\n<p><strong>Also Read:\u00a0<a href=\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/banking-regulation-bill-revival-of-banks-sans-moratorium-on-withdrawal-of-deposits\/2083132\/\" target=\"_blank\" rel=\"noopener noreferrer\">Banking regulation Bill: Revival of banks sans moratorium on withdrawal of\u00a0deposits<\/a><\/strong><\/p>\n<p>Further, the government has also advised PSU banks to obtain a certified copy of the passport of the promoters or directors and other authorised signatories of companies availing of loan facilities of more than Rs 50 crore. In an effort to arrest the incidents of bank frauds, the heads of state-lenders have been empowered to issue requests for the issue of Look-Out Circulars.<\/p>\n<p>Meanwhile, the public sector banks are sitting on a pile of NPAs for the loans related to agriculture and allied activities; industry; and retail loans in the fields of education and housing. With the highest share of NPAs, <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/state-bank-of-india-stock-price\/\" rel=\"noopener noreferrer\">State Bank of India<\/a> has NPAs of Rs Rs 32,543 cr in agriculture and allied activities, Rs 74,922 crore in industry loans, and Rs 39,976 crore in retail loans, as on 31 March 2020, according to the Lok Sabha papers. <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/punjab-national-bank-stock-price\/\" rel=\"noopener noreferrer\">Punjab National Bank<\/a> (<a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/punjab-national-bank-stock-price\/\" rel=\"noopener noreferrer\">PNB<\/a>), <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/allahabad-bank-stock-price\/\" rel=\"noopener noreferrer\">Allahabad Bank<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/central-bank-of-india-stock-price\/\" rel=\"noopener noreferrer\">Central Bank of India<\/a> follow <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/state-bank-of-india-stock-price\/\" rel=\"noopener noreferrer\">SBI<\/a> in terms of the highest share of non-performing assets.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/38-persons-flee-india-after-committing-bank-frauds-in-five-years-psu-banks-sit-on-pile-of-npas\/2083586\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Applications under the Fugitive Economic Offenders Act, 2018 were filed against 11 persons. (Bloomberg image) The Central Bureau of Investigation (CBI) has informed that as much as 38 persons have fled India after committing bank frauds in the five years to 2019. Further, the Enforcement Directorate apprised that application for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22119,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-22118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/09\/bank-fraud.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/22118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22118"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/22118\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/22119"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}