{"id":31158,"date":"2018-10-27T12:24:13","date_gmt":"2018-10-27T06:54:13","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=31158"},"modified":"2018-10-27T12:24:13","modified_gmt":"2018-10-27T06:54:13","slug":"govt-seeks-rbi-view-on-system-faults","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/govt-seeks-rbi-view-on-system-faults\/","title":{"rendered":"Govt. seeks RBI view on system faults"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/business\/Economy\/govt-seeks-rbi-view-on-system-faults\/article22800019.ece\"><b>Govt. seeks RBI view on system faults<\/b><\/a><\/p>\n<p><b>Context:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The Finance Ministry has sought the Reserve Bank\u2019s view on the lapses in the banking system that led to the \u20b911,500 crore fraud at the Punjab National Bank <\/span><\/p>\n<p><b>Details:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Department of Financial Services has written a letter to the RBI to explain the shortcomings in the system which let the fraud to go undetected for 7 years<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The letter also seeks the regulator\u2019s advice on what system and processes need to be updated so that such frauds are prevented<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Ministry has also sought RBI\u2019s view on failure of auditors to detect fraud that has been going on since 2011.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Govt. seeks RBI view on system faults Context: The Finance Ministry has sought the Reserve Bank\u2019s view on the lapses in the banking system that led to the \u20b911,500 crore fraud at the Punjab National Bank Details: Department of Financial Services has written a letter to the RBI to explain the shortcomings in the system&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/govt-seeks-rbi-view-on-system-faults\/\">Continue reading <span class=\"screen-reader-text\">Govt. seeks RBI view on system faults<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-31158","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704909036},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=31158"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31158\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=31158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=31158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=31158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}