Financial fraud

Citing commercial banks' failure to know about the people in the transactions chain as the root cause of financial frauds, the Reserve Bank of India on Friday said it is making efforts to convince banks to have a policy on tackling fraud.…

Maharashtra Police on Monday arrested Director of Micro Finance Limited Baikuntha Nath Patnaik from his residence at Prachi Vihar, Bhubabaneswar for alleged financial fraud. An Economic Offences Wing team from Jalgaon of Maharashtra state…