Total fraud loss to Indian banks in year 2005-06 was Rs.1381 crores according to
the Report published by RBI.
Existence of the internal controls is still the methodology in India to catch the frauds.
Collusion of the borrowers and the employees is the biggest cause of the bank frauds.
Money laundering is considered to be the risk of frauds in future.
Training the bank employees is the most effective way to prevent the bank frauds.
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1 comment:
Hi rahul
Where did u get all this information from ? Did u go through the Reserve Bank reports ? Is this information published somewhere or you have come to this conclusion just out of air ? If it is published somewhere then please make it a point that you mention the sources of the same.
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