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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, 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.
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.
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