This is a big NewsX impact. The finance ministry has now asked CEOs of public sector banks to check all NPA accounts exceeding Rs 50 crore for fraud. Earlier, NewsX carried out an extensive campaign on NPAs to uncover the depth of the crisis which made the govt take note and hold people accountable. Now, if bankers fail to flag frauds in NPA accounts which are later unearthed by investigating agencies, they could be held accountable under section 120b of IPC. Indian banks are saddled with mounting non-performing assets which have now reached a staggering figure of Rs 8 lakh crores. Moreover, several banking frauds have been unearthed that have led to banks' mounting NPAs.
