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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, as per a Reserve Bank of India (RBI) report.

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

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

FY Number of Cases Amount (Crores) (Rs)
2013-14 4,306 10,170
2014-15 4,639 19,455
2015-16 4,693 18,698
2016-17 5,076 23,933
2017-18 5,152 28,459
Total 23,866 100,715

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.

Read more about: bank fraud rbi
Story first published: Wednesday, May 2, 2018, 17:24 [IST]
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