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Use technology to prevent diversion of funds, CVC tells banks

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Use technology to prevent diversion of funds, CVC tells banks

The Central Vigilance Committee (CVC) has asked banks to use technology, especially artificial intelligence (AI), to create profiles and understand the lifestyle of borrowers in order to identify any transfers of funds at a later stage in the future, people familiar with the matter said. The highest security agency believes that a large number of high-value frauds occur not only because of the disregard of the lending system and procedures, but also because the banks have failed to monitor the use of loans.

“Banks are required to use artificial intelligence to track usage in order to send red flags and transfer funds in the event of any abnormalities in loan account operations. Thorough analysis is required, especially when overseas branches report large transfers,” one Said an official who asked not to be named. An investigation into high-value fraud cases reported in the past five or six years found that the defendant used public funds to buy bungalows, jets, helicopters, yachts, jewelry, high-end cars and real estate abroad, otherwise the money should have been used for loans.

The business activity mentioned. Vijay Mallya owns a luxury private jet and yachts, including one of the largest yachts in the world, a villa in Goa. According to reports, he organizes parties there, except in Britain, France and the United States, and the bank has been waiting for him to return the money.

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He owed the Bank of India 900 billion rupees. Similarly, Nirav Modi (Nirav Modi) used bank funds for properties, such as Worli’s sea-facing apartment, a Rolls Royce worth 5 crore, an art collection worth billions of rupees, an apartment in New York And other countries (except for high-profile press conferences) for his brand. Mehul Choksi also transferred his money to the United States and Antigua and Barbuda, where he currently lives as a citizen. Nirav Modi and Choksi were accused of defrauding Punjab National Bank for 13,578 crore.

A second-class official stated that the bank’s failure to monitor and analyze these activities may help to alert on fraud at an early stage. One of the issues that CVC noticed when processing/approving loans was that the same official was appointed to different financial/sanction committees. “Another outstanding issue that CVC has noticed is that in the case of joint/multiple financing, the delays in fraud declarations by banks are considerable.

This not only allows the borrower to deceive the banking system to a large extent, but also gives him a considerable amount of time. Time erases the trace of money,” said the first official mentioned above. CVC has advised banks to “prioritize fraud prevention at all levels through the use of technology and careful inquiry. Even after lodged a complaint with the Central Bureau of Investigation and other agencies, it also asked them to continue to pursue loans.

News Source : Hindustan Times

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Archana Puran Singh fractures wrist, apologises to Rajkummar Rao for leaving shoot midway

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Archana Puran Singh fractures wrist, apologises to Rajkummar Rao for leaving shoot midway

Archana Puran Singh, a Bollywood actor, was injured during a film shoot in Mumbai. She fractured her wrist during the shoot and was taken to Nanavati Max Super Speciality Hospital. Singh apologised to Rajkummar Rao for leaving the shoot midway and expressed her gratitude for the surgery.

She also shared the visible swelling around her lips and the lessons she learned from the incident. Singh was discharged after the surgery and is now back at work. She was last seen in Vicky Vidya Ka Woh Wala Video, which starred Rajkummar Rao, Triptii Dimri, Mallika Sherawat, and Vijay Raaz. The film failed to perform well at the box office, collecting only ₹58.03 crore worldwide.

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Veteran actress Archana Puran Singh recently suffered a wrist fracture while shooting for her upcoming film alongside actor Rajkummar Rao. The incident occurred around 5 a.m. on the film set, leading to immediate medical attention. She was promptly taken to Nanavati Max Super Specialty Hospital in Vile Parle, Mumbai, where she underwent surgery for the injury.

Rajkummar Rao, known for his versatility and dedication to his craft, has expressed his concern and support for Archana during this challenging time. The two actors share a professional camaraderie, having previously collaborated on various projects. Their mutual respect and understanding have been evident in their past interactions.

Archana Puran Singh, a seasoned actress and television personality, has been a prominent figure in the Indian entertainment industry for decades. She is widely recognized for her roles in films such as “Kuch Kuch Hota Hai,” “Maine Pyaar Kiya,” and “Baadshah.”

In addition to her film career, she is a beloved judge on the popular television show “The Kapil Sharma Show,” She was promptly taken to for the injury. where her infectious laughter and warm demeanor have won the hearts of audiences.

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Rajkummar Rao, on the other hand, has established himself as one of the most talented actors of his generation. His performances in films like “Newton,” “Stree,” and “Roohi” have garnered critical acclaim and numerous awards. Known for his commitment to diverse roles and his ability to bring depth to his characters, Rajkummar continues to be a significant presence in the Indian film industry.

The upcoming film featuring Archana Puran Singh and Rajkummar Rao has generated considerable excitement among fans and industry insiders. Details about the film’s plot and release date are currently under wraps, but the collaboration between these two esteemed actors has piqued interest.

In the meantime, Archana is focusing on her recovery, following medical advice and undergoing necessary physiotherapy sessions. She has expressed gratitude for the support and well-wishes from her fans and colleagues. Her resilience and positive attitude during this period are commendable, and she remains committed to returning to work once she has fully healed.

The incident serves as a reminder of the physical demands and risks associated with the entertainment industry. It highlights the importance of safety measures on set and the need for prompt medical attention in case of injuries. Both Archana and Rajkummar have demonstrated professionalism and dedication, ensuring that the production continues smoothly despite the unforeseen circumstances.

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Fans eagerly await updates on Archana’s recovery and the progress of the film. The collaboration between these two talented actors is anticipated to bring a compelling and engaging story to the screen, further enriching the Indian film landscape.

For more insights into Archana Puran Singh’s journey and her experiences in the entertainment industry, you can watch the following video

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