ECONOMIC SURVEY 2021-22 – Key Highlights

The Economic Survey 2021-22 was tabled in Parliament on Monday by Finance Minister Nirmala Sitharaman soon after the President’s address to both Houses of Parliament. The survey, presented a day before the Union Budget, underlines the state of the economy and outlines suggestions for policy actions.

25% ATMs of public sector banks may be vulnerable to fraud

The government on Friday indicated that nearly a quarter of the automated teller machines (ATMs) run by public sector banks may be vulnerable to frauds as 74% of the cash dispensers are running on outdated software.

Banks lost ₹ 75,000 cr in frauds in 3 years: RBI to House panel

The Reserve Bank of India, on Tuesday, informed a Parliamentary Committee that banks have reported 15,673 incidents of frauds during the last three financial years (2015-16, 2016-17 and 2017-18), involving a total amount of ₹74,993 crore.