Frauds above Rs one lac decreased during 2020-21* as compared to previous year.

RBI data shows:

 *Frauds above Rs one lac  decreased during 2020-21* as compared to previous year.

  In value terms, frauds decreased by 25% whereas they decreased by 15% in terms of numbers. 

Frauds  decreased in  Public Sector Banks whereas they increases in private banks.

Majority of the frauds happened in loan accounts. There was a delay of 23 months in detection of frauds from the date of their happening. However in large value (Rs 100 cr and above) frauds, the delay was 57months

PLI is a Lollipop 1st stage of Privatization

After credit in salary account 15 days Basic+DA  all are happy of Canarian, BOM employee . Same thing also be credited more or less for SBI  and for UCO it is 5 days Basic+DA.

But friends it is not for long time. Operating profit increses more than 15% YOY is very difficult job. Major bank was in loos  so it is possible in current year. It is a lolli pop 1st stahe of privatization.

All the bankers are so happy on getting PLI credit as if they have found the treasure of Kuber and those who did not get it are waiting for the gold Lanka!

Everyone is forgetting that this is a step towards privatization 

LIC SHARE WILL SELL WITH LOSE OF rS 9000 CR LIC MONEY IS PEOPLE'S MONEY

 

Vaccinating during a pandemic is “unthinkable” and is causing deaths, the winner of the 2008 Nobel Prize in Medicine for discovery

French virologist and Nobel Prize winner Luc Montagnier called mass vaccination against the coronavirus during the pandemic “unthinkable” and a historical blunder that is “creating the variants” and leading to deaths from the disease.

“It’s an enormous mistake, isn’t it? A scientific error as well as a medical error. It is an unacceptable mistake,” Montagnier said in an interview translated and published by the RAIR Foundation USA yesterday. “The history books will show that, because it is the vaccination that is creating the variants.”

Many epidemiologists know it and are “silent” about the problem known as “antibody-dependent enhancement,” Montagnier said.

“It is the antibodies produced by the virus that enable an infection to become stronger,” he said in an interview with Pierre Barnérias of Hold-Up Media earlier this month. 

Vaccination leading to variants

While variants of viruses can occur naturally, Montagnier said that vaccination is driving the process. “What does the virus do? Does it die or find another solution?” 

“It is clear that the new variants are created by antibody-mediated selection due to the vaccination.”

Vaccinating during a pandemic is “unthinkable” and is causing deaths, the winner of the 2008 Nobel Prize in Medicine for discovery

‘Deaths follow vaccination’

“The new variants are a production and result from the vaccination. You see it in each country, it’s the same: in every country deaths follow vaccination,” he said.

A video published last week on YouTube uses data from the Institute for Health Metrics and Evaluation at the University of Washington to illustrate the spikes in deaths in numerous countries across the globe after the introduction of COVID vaccination, confirming Montagnier’s observation.

The French interviewer pointed to data from the World Health Organization (WHO) showing that since the vaccines were introduced in January, new infections contamination have “exploded,” along with deaths, “notably among young people.”

“Yes,” agreed Montagnier who is a professor at Shanghai Jiao Tong University. “With thrombosis, etc.”

Thrombosis – or blood clots — have been an unexpected problem linked to the new coronavirus vaccines and the cause of AstraZeneca’s vaccine being pulled in several countries. The head of Canada’s public health agency, Theresa Tam, told a press conference Tuesday that there are now 21 confirmed cases of vaccine-induced thrombotic thrombocytopenia, or VITT, including among three women who died from the blood-clotting disorder potentially linked to AstraZeneca’s vaccine and another 13 cases are under investigation. 

Breakthrough cases

Montagnier said that he is currently conducting research with those who have become infected with the coronavirus after getting the vaccine. The Centers for Disease Control and Prevention reported in April that it had received 5,800 reports of people who had “breakthrough” COVID after being vaccinated, including 396 people who required hospitalization and 74 patients who died. 

“I will show you that they are creating the variants that are resistant to the vaccine,” Montagnier said.

Coronavirus made in a lab

The famous French virologist created waves in April 2020 when he told a French television station that he believed SARS-CoV2, the new pandemic coronavirus, was man-made in a laboratory. The “presence of elements of HIV and germ of malaria in the genome of coronavirus is highly suspect and the characteristics of the virus could not have arisen naturally,” he said. 

Though he was ridiculed by French experts for having “a conspiracy vision that does not relate to the real science,” Montagnier published a paper in July 2020 supporting his claims that the novel coronavirus must have originated from human experimentation in a lab – a theory that has recently resurfaced and is currently considered the most likely origin of the virus.

 

RBI issues guidelines for amalgamation of district central co-op banks with state co-op banks

The Reserve Bank on Monday said it will consider amalgamation of District Central Co-operative Banks (DCCBs) with State Cooperative Banks (StCBs) subject to various conditions, including that a proposal should be made by the state government concerned. The Banking Regulation (Amendment) Act, 2020 has been notified for the StCBs and DCCBs with effect from April 1, 2021. Amalgamation of such banks need to be sanctioned by the Reserve Bank of India.

RBI has come out with the guidelines after a few state governments approached it for amalgamation of DCCBs with StCBs as a two-tier Short-term Co-operative Credit Structure (STCCS).

As per the guidelines, RBI will consider proposals for amalgamation "when the state government of the state makes a proposal to amalgamate one or more DCCB/s in the state with the StCB after conducting a detailed study of the legal framework".

Besides, there should be a an additional capital infusion strategy, assurance regarding financial support if required, projected business model with clear profitability and proposed governance model for the amalgamated bank.

The scheme of amalgamation has to be approved by the requisite majority of shareholders. Also, NABARD has to examine and recommend the proposal of the state government.

"The proposal for amalgamation of DCCBs with the StCB will be examined by Reserve Bank in consultation with NABARD and the sanction/ approval will be a two-stage process," the guidelines said.

In the first stage, an 'in-principle' approval will be accorded subject to fulfilment of certain conditions, following which the processes for amalgamation may be initiated by all concerned.

After completion of the first stage, NABARD and RBI may be approached for final approval along with compliance report, as per the guidelines.

The guidelines also said that if as a result of share swap ratio based on net worth, shareholders of some DCCBs cannot be allotted any shares, then the state government should infuse sufficient capital in such lenders to ensure that the shareholders are allotted at least one share each.
 

Fugitive businessman Mehul Choksi goes missing: Antiguan police

Fugitive diamantaire Mehul Choksi, wanted in a ₹13,500-crore loan fraud in Punjab National Bank, has gone missing in Antigua and Barbuda where he had been staying since January 2018, the Royal Police Force of the Caribbean island nation said in a statement. The police force which has launched a missing person operation issued a statement along with the photograph of the businessman seeking information from public. "The Police are investigating a Missing Person Report made of 62-year-old Mehul Choksi of Jolly Harbour. Mehul was reported missing on Sunday 23rd May 2021 at the Johnson Point Police Station," the statement said.

Choksi was last seen on Sunday in his car which was recovered by the police following searches but he could not be found, it said.

Antiguanewsroom", a local media outlet, quoted Commissioner of Police Atlee Rodney on Tuesday that the police are "following up on the whereabouts of Indian businessman Mehul Choksi", who is "rumoured" to be missing.

The media reports say Choksi, who had taken the citizenship of the Caribbean island nation of Antigua and Barbuda, was seen driving in the southern area of the island on Sunday.

Choksi's lawyer Vijay Aggarwal confirmed the reports.

Choksi and his nephew Nirav Modi are wanted for allegedly siphoning off ₹13,500 crore of public money from the state-run Punjab National Bank (PNB), using letters of undertaking.

While Modi is in a London prison after repeated denial of bail and is contesting extradition to India, Choksi had taken the citizenship of Antigua and Barbuda in 2017 using the Citizenship by Investment programme, before fleeing India in the first week of January 2018. The scam came to light subsequently.

Banks in India report loan fraud worth Rs 5 trn, SBI's amount largest

 Banks operating in India reported fraud of Rs 4.92 trillion as on March 31, 2021, which represents nearly 4.5% of the total bank credit, showed Reserve Bank of India (RBI) data, which was sought under the Right to Information (RTI) Act by Saurabh Pandhare. The data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021.

State Bank of India – the country’s largest lender – reported the highest amount of loans as fraud - Rs 78,072 crore as on March 31, 2021. SBI is followed by Punjab National Bank (Rs 39,733 cr