Bank frauds on the rise: what should be done?

Most of the fraud happens interms of Loans that are being sanctioned, from personal loans to home loans where from valuators banks will be misled time and again, and even bank managers at times will be involved and valuators from banks who visit the site location will be easily bribed and will send wrong reports and then by the time banks comes to know about these things already crores of rupees will be duped. So high scrutiny is first required, just because banks want to expand and grow they can't give loans to everybody, but sadly that is the case and hence we are seeing an increase bank frauds.

This is a bigger problem and we should see larger picture. This will continue untill following things are done.

1. Issuance of UID to every Indian Citizen. This will help banks to know who exactly is involved in the fraud. So action that can be taken.
2. Indian Penal Code has to be amended to severely punish people who commit Financial Frauds. Using existing laws one (fraudster) can easily escape with little or no punishment
3. Banks must have a common database, where details can be verified (real-time). All banks can form an association and have few hundered people in that association to help provide real time information about account holders.

I think only this will help Nip the problem in the bud as there will be early detection of problem areas,corrupt officials also will not take the risk of getting detected and a jail term.

If you go through the present scenario, it may be found that

We have developed more regulatory authorities, rules & regulations than the expert followers of them. It has all created a confusing scenario and a lot of target compliance pressures on working personnels associated with money lending.

On the other side, a number of facilitators group also working in the interest of brokerage and commissions. Thus, the whole gamut suggests the huge deployment of funds but in distributed manner and not in centralised manner.

You just see the lonee is only one but the beneficiaries are many... is it a balanced formula where we can expect for a successful execution ... ???

I think only this will help Nip the problem in the bud as there will be early detection of problem areas,corrupt officials also will not take the risk of getting detected and a jail term.

I think the old days were better where one would not dare to take a loan just for any sake, as he had to think many times for the rate of interest he has to pay for the loan amount,thus risk was less, now in present time we see the rate of Interests dropped too low that one can dare to take loan to any amount (ofcourse of what he is eligible),irrespective of the interest amount which he/she knows is little and will have to be paid for more no. of years,and additional to this bank managers valuators as rightly stated by Leena are going corrupt and are being bribed very easily, a common man know only to pay to them as he like others wants to get his work done.

I also think that the tenure within which one is supposed to repay the loan should be less,with higher EMI ,in this manner banks will get selected customers and can grow in right direction.

while the cst appling for a loan are account opening go and conform that is he having a right status to have a family relations ship with us after that if he alligible for all those things. after that each and every cst must and should inform for the same while he is changing the add's  if not he goning to black list of our sack 

thing to maintained:

1.photo&I.D proof of the cst

2.moblie num of such person ho is giveing him refarence min 3.

3.E_mail id's of both

(to trace in orkut and 123 dail) 

4.if possible each and every cst phone num get by the bank while the cst is geniune as up to mark and should maintain in data is personal brouse as update of cst details.

5.if possible each and every cst be called by banker through some prosess  like tele calling prosess as a cst minder. 

Discrepancy in actual stock n as seen in statement leads to huge organisational loss which comes to light only when the party is unable to pay even the interest due.Bankers as seen in many a cases are interested only in the interest they get n not in actual n proper functioning of a company.