• Dr Ratikanta Dey

The role of Banks is significantly and systematically crucial in the financial system and the economy of a country. Despite adherence to the best Banking practices, guidelines, rules and laws under the ambit of a number of statutory regulators, frauds i.e an act of using illegal means to obtain money or assets of Banks, appear constant and recurrent. Banks and other Financial Institutions (F.I) have reported frauds worth Rs 1.38 trillion numbering 7400 plus in the financial year (FY) 2020-21. This figure is down by 25% compared to previous year as per RBI annual report released on 28-05-2021. A great many factors contribute for occurrence of frauds in the financial system and subsequent failure towards mitigation and containing occurrence and recurrence of frauds. The Banking system is regulated by Reserve Bank of India under the provisions of Banking Regulation Act, 1949 and Reserve Bank of India Act 1934. R B I is the Bankers Bank and Central Bank of India. All the countries of the world have such Regulatory Authorities which supervise, regulate, control, advise, guide, issue instructions and guidelines from time to time under Financial Acts. The Regulator of a country has the responsibility for monetary policy, regulation and development of financial sector institutions and financial system with the objective to guarantee fair and efficient markets and financial stability in a country.

Bank Frauds and Regulators

"Bank Frauds and Regulators", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 4, page no.c613-c618, April-2022, Available :http://www.jetir.org/papers/JETIR2204287.pdf

"Bank Frauds and Regulators", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 4, page no. ppc613-c618, April-2022, Available at : http://www.jetir.org/papers/JETIR2204287.pdf