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Public sector banks hit by Rs 1.17 lakh crore worth frauds in April-December: RTI
SBI reported 4,769 cases of banking frauds worth Rs 30,300 crore during the nine-month period ended in December 2019.
Indore: A total of 8,926 cases of fraud involving Rs 1.17 lakh crore hit 18 public sector banks during the first three quarters (April-December) of the current fiscal, a reply to an RTI query has revealed.
The country's largest lender State Bank of India (SBI) was the biggest hit by frauds, RTI activist Chandrasekhar Gaur told PTI on Thursday quoting an official of the RBI who furnished replies to the RTI application.
SBI reported 4,769 cases of banking frauds worth Rs 30,300 crore during the nine-month period ended in December 2019.
This is about 26 per cent of the Rs 1,17,463.73 crore, which is the total amount of reported cases of banking frauds in PSBs during this period, he said.
In Punjab National Bank, 294 cases of banking fraud were reported during this period, with Rs 14,928.62 crore involved in it.
During the period, 250 cases involving a total amount of Rs 11,166.19 crore were reported in Bank of Baroda.
A total of 860 cases of fraud worth Rs 6,781.57 crore were reported in Allahabad Bank during this period, while 161 cases of fraud worth Rs 6,626.12 crore in Bank of India, it said.
As many as 292 cases of fraud worth Rs 5,604.55 crore detected in Union Bank of India, 151 cases worth Rs 5,556.64 crore in Indian Overseas Bank and 282 cases worth Rs 4,899.27 crore in Oriental Bank of Commerce were reported.
Besides, 1,867 cases involving a total amount of Rs 31,600.76 crore were reported in Canara Bank, UCO Bank, Syndicate Bank, Corporation Bank, Bank of Maharashtra, Central Bank of India, Andhra Bank, United Bank of India, Indian Bank and Punjab and Sind Bank, it added.
The RBI has not given specific details of the nature of banking fraud cases and the losses suffered by banks or their customers due to these frauds.
