Analysis of Frauds in Indian Banking Sector
Indian economy is one of the world’s fastest growing economies with special growth of banking sector in the past few decades. Banking sector is the backbone of any economy. The Indian banking sector has experienced considerable growth since the introduction of financial sector reforms and liberalisation of economy in 1991. Though the banking industry is well regulated by Reserve Bank of India, still the sector suffers from financial distress. This study endeavours to cover banking frauds. In this article, author analyses the current financial difficulties in the banking sector due to the scams and frauds. The report discusses about the case of mounting Non performing assets in past few years across Indian scheduled public sector banks. Majority of the banks in India are facing the problems of low lending rate and nonperforming assets. Scams and non payment of the loans by the influential and wilful defaulters are one of the major problems for the banks at present. The author suggests certain measures to reduce banking sector frauds.
Non performing assets, banking frauds, public sector banks
Mrs Sunindita Pan