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International

Indian banks to boost demand for cover against fraud: Marsh

May 10, 2018 Reprints

Marsh India Insurance Brokers Pvt. Ltd. said that Indian banks are likely to drive demand for cover against fraud and robbery following several recent incidents, Bloomberg reported. The insurance broker said that the amount banks lost due to fraud has tripled over the last five years. Punjab National Bank lost $2 billion due to fraud in February. Banks will need to pay higher insurance premiums following the frauds, Marsh added.

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Indian banks to boost demand for cover against fraud: Marsh

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