HOME > BUSINESS > Bank robberies increased in J&K, Haryana after demonetization: RBI data

Bank robberies increased in J&K, Haryana after demonetization: RBI data

The demonetization of high-value currency notes saw a rise in the number of bank robberies towards the end of 2016, but all of the increase came from just three states — Jammu & Kashmir, Bihar and Haryana.

Overall, cases of theft, robbery and loot of on bank properties increased by 11% in the last three months of 2016 compared to the previous three months, jumping to 271 from 245 in the preceding quarter.

However, excluding attacks of Bandhan Bank — which was targeted most often by robbers — the total cases went up by only 7% to 186 from 174 in the July to September period.

The demonetization of currency notes seemed to have hit militants based in Jammu & Kashmir, as the number of such cases rose sharply in that state. While only 4 such cases were reported in the state in the third quarter of the year, the number rose to 15 in the final quarter.

The total cash looted in the state increased from Rs 19.55 lakh in July-September to 1.48 cr in October-December, according to Reserve Bank data.

Haryana was the other state that saw a rise in similar incidents. Such cases rose to 30 from 13 between the two quarters.

While bank robbers were able to make off with just 18 lakhs in July-September in Haryana, they looted Rs 2.49 cr in the last three months of the year.

On a pan-India level, robbers looted Rs 11.68 cr in July-September and Rs 12.85 cr in October-December of 2016.

The data also revealed that Bandhan Bank, the micro-finance company that became a bank in 2015, was targeted far more often by robbers compared to other banks.

The bank, which was operating about 700-800 branches during the period, reported a total of about 156 incidents of robberies, theft, dacoity and burglary in the six months from July 2016 to December 2016.

These incidents include those related to its branches, ATMs and cash vans, and constituted 30.2% of the all such incidents reported by all the banks in India to the RBI during the period. In comparison, the bank accounts for only about 0.7% of all bank branches in the country.

The highest number of security incidents were witnessed in Bihar and West Bengal.

At 52 incidents over the six months, Bihar accounted for about one-third of the total number reported by the bank, followed by West Bengal with 44 incidents.

Assam, with 19 cases, and Uttar Pradesh with 15 followed.

The number of such cases increased from 71 in the three months from July to September to 85 in the last three months of 2016.

Bank robberies, theft etc reported to RBI in 2016 for Bandhan Bank
 Q3Q4
Assam127
Bihar1933
Chattisgarh01
Haryana12
Uttar Pradesh78
Jharkhand47
MP01
Maharashtra01
Orissa25
Rajasthan01
Uttarakhand10
West Bengal2519
Total for Bandhan7185
Total for all banks245271
Follow ULTRA.news
Karnataka Bank NII up 11%, PAT down Karnataka Bank's second quarter net profit fell to Rs 93.38 crores from 123.82 crores last year.However the operating profit showed a robust growth of 57.35% and improved to Rs 366.24 cr from Rs 232.75 cr.The Net Interest Income rose to 440 cr from 397 cr last year.G...
RBI fines Religare Finvest Rs 20 lakh The Reserve Bank of India has imposed a monetary penalty of ₹20 lakh on Religare Finvest for the failure to comply with the directions/orders issued by RBI on an assignment transaction."An inspection of the company was conducted under section 45N of the RBI Act, 1934 during ...
Tata Teleservices to merge mobile business with Bharti Airtel Bharti Airtel Limited, India’s largest telecommunications services provider and Tata, India’s leading conglomerate, today announced that they have entered into an understanding to merge Consumer Mobile Businesses (CMB) of TTSL and TTML into Bharti Airtel.The move is likely ...
BJP places gruesome banners of Kerala killings in New Delhi https://www.facebook.com/photo.php?fbid=1669117573148867&set=pcb.1336920326413229&type=3&theater&ifg=1   In an attempt to drum up public support for its fight with the Left Front in Kerala, the BJP's Delhi unit has in the heart of the national capital place...
Tata Teleservices says all options on table; no final decision, denies reports Tata Teleservices Maharashtra, the listed unit of TTSL, said it had not taken any "firm decision" on how to go forward, reacting to a news article in the Business Standard that said the company will shut down this month.Reacting to media reports, the company said it "continu...
Andhra Bank, Syndicate Bank customers lose lakhs to Aadhaar fraud Five customer accounts belonging to Andhra Bank and Syndicate Bank were subjected to fraudulent withdrawals using the customer's Aadhaar data, government data indicated.Four of the five Aadhaar fraud cases took place in Andhra Bank, while the remaining one took place in Synd...
WATCH: Kerala student secretly records teacher hitting others in class A student in Kerala went out on a limb to expose the abuses of his teacher by bringing a cellphone and recording the teacher's actions secretly.The video, which shows the teacher repeatedly beating a student with his hand, has gone viral on WhatsApp in Kerala.The video h...
Bank of Baroda slashes lending rates by 35 bps Bank of Baroda, one of the largest banks in India, has slashed the base rate and benchmark prime lending rates in keeping with the decline in inflation and loan demand.The company slashed the base rate to 9.15% from 9.5% with effect from Oct 1.Base rate is the minimum ra...
IndusInd Bank enters merger talks with SKS Microfinance Bharat Financial Inclusion, formerly known as SKS Microfinance, said it has entered into exclusive discussion with IndusInd Bank on a potential "strategic combination by way of amalgamation through a scheme of arrangement, or any other suitable structure."SKS Microfinance is...
Police arrest biggest group of illegal Bangladeshis in Kerala; 35 nabbed Police in Kerala have arrested 35 people in Malappuram district on suspicions of being illegal Bangladeshi citizens staying in India.The arrests were made in Edavannapara in the Muslim-dominated district.Police sources said that the arrests are likely to lead to an accel...
SBI warns against fraudsters luring customers with fake deposit schemes India's biggest bank, State Bank of India, has been forced to issue warning letters to its customers after fraudsters targeted the banks' customers with fake schemes and offers.An email message has been sent to customers warning them against depositing money on the advice of...
Islamic missionaries arrested for ‘creating tension’ between groups A group of 39 Islamic missionaries have been arrested for door-to-door distribution of religious pamphlets that said, among other things, that people who worship multiple Gods will burn in hell.The volunteers of 'Mujahid Wisdom Global Islamic Mission', who were distributing t...
Expecting waivers, farmers stop paying back bank loans? The write-off of farm loans in Uttar Pradesh and Maharashtra seems to be encouraging farmers in other states to stop paying back their farm loans to make sure that they will get the benefits of any farm loan waiver program in their state. This has led to a sharp increase in farm ...
SBI, IOB and Corp Bank only PSBs to charge for mobile NEFT Only three public sector banks -- State Bank of India, Indian Overseas Bank and Corporation Bank -- levy charges on even the smallest money transfer done via mobile phones using the National Electronic Fund Transfer or NEFT facility, data compiled from public sector banks show. ...
India bitcoin law not ready yet – Finance Ministry Finance Minister Arun Jaitley said there was no law on the use of bitcoin and similar crypto currencies in India, and users of such currencies may not get recourse to legal remedies for any damage.However, Jaitely added that the government has set up a committee that is expec...
SBI enables Samsung Pay for some of its debit cards State Bank of India said it was enabling payment by Samsung Pay service on some of its higher debit card variants.Samsung Pay works by mimicking the 'swiping' action of a credit or debit card by sending a magnetic pulse. The 'card machine' or point of sale machine mistakes th...
Demonetization took India forward by 3 years – SBI The demonetization of currency notes late last year has doubled the number of card transactions and helped push India's payment digitisation by three years, State Bank of India said in a note."Even after seven months post demonetization, the transaction value is quite large ...
SBI clears SB Life IPO, to sell 80 mln shares State Bank of India said it had decided to conduct an initial public offer for some of its shares in its insurance subsidiary SB Life Insurance. BNP Paribas Cardif S.A. would also sell some of its shares in the offer.It said the offer would involve 8 crore shares.No valua...
RCom says telcos facing cash flow issues due to ‘go slow’ approach by banks Telecom operator Reliance Communications said companies in the sector are facing cash flow issues due to what it called a 'go slow' approach taken by banks in disbursing loans.In an update on its 'standstill agreement' with its lenders, which provides it a window of seven mon...
Farm loan wavers can impact India’s financial profile – Fitch Ratings agency Fitch said the string of farm loan waivers announced by various Indian states could impact the financial profile of the country as a whole.The agency, however, did not directly say that the moves could lead to a downgrade in India's credit rating, which would i...
Axis Bank says 8 NPA accounts fingered by RBI owes it Rs 5,283 cr Axis Bank said eight of the 12 big defaulters highlighted by the Reserve Bank of India in its June 15 circular owed over Rs 5,000 cr to the bank.The RBI had given a list of 12 large accounts which together owed about 25% of the total bad loans of Indian banks. The total bad l...
Axis Bank confirms exiting POS maker Mswipe Axis Bank confirmed it had sold its 8% share in new-generation card-swiping-machine company Mswipe Technologies.In a regulatory filing, the private sector bank said it sold its 8% stake for Rs 80.94 cr, or Rs 4,249 per share.Mswipe is one of the new generation, low-cost ...
Pakistan Army shares video of Kashmiris celebrating cricket victory Major General Asif Ghafoor, the official spokesperson of Pakistan's armed forces, shared a video of some people in Kashmir celebrating the victory of his country's cricket team in the final of ICC Champions Trophy."And this is... Srinagar," Ghafoor said. His tweet came shortly ...
SBI opens QIP at floor price of Rs 287.58 State Bank of India said its committee of directors for capital raising has decided to start receiving bids a qualified institutional placement of its shares with a floor price of Rs 287.58 per equity share."The Bank may offer a discount of not more than 5% to the Floor Pric...
German trustee of Mumbai school sexually abuses kindergarten kids A trustee of a prominent international school in Andheri in Mumbai has been booked for sexually exploiting kids studying in kindergarten in the school.An awareness poster by Indian policeAccording to the complaint filed in MIDC police station in Mumbai, a teacher used to...