Patchwork Approach To ‘Early Warning Signals’ May Do Little To Prevent Bank Frauds
Pedestrians walk past a Punjab National Bank (PNB) branch in Mumbai, India. In February 2018, the bank accused jeweler Nirav Modi of involvement in a multi-billion dollar Letters of Understanding fraud worth Rs 14,000 crore. Photographer: Dhiraj Singh/Bloomberg

Patchwork Approach To ‘Early Warning Signals’ May Do Little To Prevent Bank Frauds

The persistent rise in bank frauds has had Indian authorities worried for some time now. At last count, in 2017-18, banks lost over Rs 41,000 crore to frauds, shows data from the Reserve Bank of In...
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