More Than 23,000 Bank Fraud Cases Reported in 5 Years: RBI

In the past five years, over 23,000 fraud cases have been reported in various banks involving an astonishing amount of Rs 1 trillion, reported RBI.

In the past five years, over 23,000 fraud cases have been reported in various banks involving an astonishing amount of Rs 1 trillion, as per a Reserve Bank of India (RBI) report.

fraud

Of the total, 5,152 cases of fraud were reported in the financial year 2017-18, which amounted to Rs 28,459 crore. This was higher than the 5,076 cases were reported in 2016-17 amounting to Rs 23,933 crore.

Over the period of 5 years (March 2013 to 2018), 23,866 cases were reported, each involving over Rs 1 lakh. The total crossing over Rs 1 trillion.

The complete list of the 5 years

FYNumber of CasesAmount (Crores) (Rs)
2013-144,30610,170
2014-154,63919,455
2015-164,69318,698
2016-175,07623,933
2017-185,15228,459
Total23,866100,715

The most prominent among the bank frauds remains the over Rs 13,000 crore fraud reported by Punjab National Bank involving millionaire Nirav Modi and his uncle Mehul Choksi.

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