https://www.taxtmi.com/news?id=21774 The Government has established a framework requiring banks to examine large-value NPAs for possible fraud, report findings to NPA review committees, initiate wilful-default examination upon reporting to the central bank, and seek intelligence inputs. PSBs must enhance due diligence for large loans by obtaining certified passport copies of promoters/directors, consider publishing photographs of wilful defaulters per Board policy, rotate officials and request travel-restriction measures. Reforms include the Fugitive Economic Offenders Act, a Central Fraud Registry, the National Financial Reporting Authority and technical connectivity between core banking and messaging systems; central bank data shows detected frauds by institution. en-us Tue, 23 Jul 2019 18:05:50 +0530 Tue, 23 Jul 2019 18:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21774 The Government has established a framework requiring banks to examine large-value NPAs for possible fraud, report findings to NPA review committees, initiate wilful-default examination upon reporting to the central bank, and seek intelligence inputs. PSBs must enhance due diligence for large loans by obtaining certified passport copies of promoters/directors, consider publishing photographs of wilful defaulters per Board policy, rotate officials and request travel-restriction measures. Reforms include the Fugitive Economic Offenders Act, a Central Fraud Registry, the National Financial Reporting Authority and technical connectivity between core banking and messaging systems; central bank data shows detected frauds by institution. News - Tue, 23 Jul 2019 18:05:50 +0530 https://www.taxtmi.com/news?id=21774