In an effort to aid investigation agencies in their probes against bank frauds, the Central Vigilance Commission (CVC) has shared its analysis report on the top 100 banking frauds in the country with the Reserve Bank of India (RBI), the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI).
Issue
Context:
In an effort to aid investigation agencies in their probes against bank frauds, the Central Vigilance Commission (CVC) has shared its analysis report on the top 100 banking frauds in the country with the Reserve Bank of India (RBI), the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI).
About:
The study was initiated as a preventive vigilance measure to minimise the occurrence of such type of frauds in future.
Background:
Analysis
Key findings from the analysis:
Gem & Jewellery Sector
Manufacturing Sector
Agriculture Sector
Media Sector
Aviation sector
Way Forward:
Learning Aid
Practice question:
1. Recently, CVC (Central Vigilance Commission) shared report on top 100 bank frauds with RBI, ED and CBI. In your opinion what are the reasons for increasing number of bank fraud cases in India? Also, suggest some measures to curb them.
2. CVC (Central Vigilance Commission) is often considered as a toothless tiger to fight corruption by the critics. What are the powers and the limitations of CVC? Also, suggest measures to make CVC strong to fight corruption in India.
Verifying, please be patient.