FSMI PROJECT PRESENTATION
rajith krishna
Created on March 22, 2023
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Transcript
Team: E. Manish (12)| E. Rajith Krishna (13)| L. Neena (30)| T. Sarayu (46)
FINAL PROJECT
Case study analysis on major financial market scams
Course Name: Financial services, markets and institutions
It is fraud to borrow what we are unable to pay...
-publilius syrus
05.recommendatons
01.Abstract
06.discussion
04.findings
03. case presentation
02.introduction
TABLE OF CONTENTS
Bribe-to-loan scam
01
The Syndicate bank
keywords
illegal disbursement of loans, Due-diligence, CBI
01. SYNDICATE Bank and the case study
The Rs 1,257 crore Syndicate Bank scam is a significant banking fraud due to the illegal -disbursement of loans to some companies without proper documentation and verification of their credentials. The Central Bureau of Investigation registered/filed a case against some Syndicate Bank officials in 2019 for their alleged involvement in this scam. This research paper investigates the scam's various aspects, including its causes, impact, and consequences.
02
introduction
The Central Bureau of Investigation registered a case against several individuals, including Syndicate Bank's former chairman and managing director, for allegedly accepting bribes in exchange for approving loans. The CBI alleged that the accused had conspired to cheat the bank by fraudulently sanctioning loans to companies that were not eligible for them and had not repaid them. The bribes were allegedly paid in cash and in the form of gifts and expensive hotel stays. The accused also manipulated the bank's internal processes to approve the loans, overriding the objections of bank officials.
02. introduction
03
case presentation
03. CAse Presentation
- Charge- sheet filed on more than 20 suspects,
- More than 350 fraudulent loan accounts were opened in three branches,
- ED has issued a money laundering probe based on the FIR,
- Major conspirators: Mr. Bharat Bomb & his associates, Pavitra Kotari, Shankar lal Khandelwal.
- ₹1,257 crores of funds borrowed in multiple lots, which were proven misused
04
findings
point 2
• Collusion between officials and borrowers
point 3
• Weak internal controls
point 1
• Lack of due diligence
04. findings
05
Recommendations
• Assessing the end-use of loans sanctioned
• Enhancing employee training and awareness
• Greater transparency
• Enhanced supervision
• Strict action against defaulters
• Improving due diligence
• Strengthening internal controls
05. Recommendations
06
discussion
discussion
- room for further investigation into this scam.
- MESSAGE from CBI after the investigation,
- CIRCULAR ISSUED by RBI,
- the consequences of lax governance and oversight
06. METODOLOGÍA
Any question?
our team
Thanks for your attention