New Delhi, Mar 4 : Union Finance Minister P Chidambaram today said that banks in India lost about Rs 1,078 crore due to frauds, including credit card frauds, in 2007.
"While the total number of frauds as reported by banks is increasing, there is a reduction in the total amount involved over the last three years," Chidambaram told the Rajya Sabha.
In reply to a question raised by Shobhana Bhartia and Prof Alka Balram Kshatriya on rising economic offences in banks, he said the number of bank frauds have gone up from 12,374 in 2005 to 22,280 in 2007.
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Finance Minister P Chidambaram on Monday said in a meeting with Industry associations in the capital that the loan waiver provided for the farmers was very much warranted as it was necessary that India should not rely on imported food grains for its requirements.
Union Finance M
After the declaration of the national budget for 2008-09, small and medium IT enterprises get disappointed, as there is not much scope to enhance growth prospects of the IT industry.
New Delhi, Feb 29 : Union Finance Minister P Chidambaram today said that there is an investment boom in the economy and that the budget aimed at further fuelling the country's growth story.
