RBI reveals 60,000 crores Value bank fraud in India

NEW DELHI: Feb-17: Nearly Rs.60,000 crores value bank fraud. This information was revealed by the Reserve Bank of India for the RTI application.

According to the Right to Information Act issued by the Reserve Bank of India, nearly Rs 8,670 crore of fraud has been reported in government-run banks. The RTI application is available for information on fraud cases in 20 of the 21 major banks in India.

Most notably, bank frauds amounted to $ 149 billion last year. Bank fraud cases totaled $ 63.57 billion in 2012-13. Punjab National Bank, which is the focal point of the current fraud case, has topped the list with 389 fraud cases totaling $ 65.62 billion.

Bank of Baroda came in second with 389 cases worth $ 44.73 billion. Bank of India tops the list with 231 cases worth $ 40.5 billion.

The State Bank of India (SBI), also known as the country’s largest bank, is no exception. There were 1,069 fraud cases registered in the SBI and the total value of these cases is not yet revealed.

RBI Data Shows, India’s Bank Fraud Problems, High As Rs 60,000 Crore