State-Run Lenders Hit By Fraud Cases Of Rs 1.17 Lakh Crore In April-December

State-Run Lenders Hit By Frauds Of Rs 1.17 Lakh Crore In April-December

A complete of 8,926 circumstances of fraud involving Rs 1.17 lakh crore hit 18 public sector banks through the first three quarters (April-December) of the present fiscal, a reply to an RTI question has revealed.

The nation’s largest lender State Bank of India (SBI) was the largest hit by frauds, RTI activist Chandrasekhar Gaur instructed PTI on Thursday quoting an official of the RBI who furnished replies to the RTI utility.

SBI reported 4,769 circumstances of banking frauds price Rs 30,300 crore through the nine-month interval ended December 2019. This is about 26 per cent of the Rs 1,17,463.73 crore, which is the entire quantity of reported circumstances of banking frauds in PSBs throughout this era, he mentioned.

In Punjab National Bank, 294 circumstances of banking fraud had been reported throughout this era, with Rs 14,928.62 crore concerned in it.

During the interval, 250 circumstances involving a complete quantity of Rs 11,166.19 crore had been reported in Bank of Baroda.

A complete of 860 circumstances of fraud price Rs 6,781.57 crore had been reported in Allahabad Bank throughout these interval, whereas 161 circumstances of fraud price Rs 6,626.12 crore in Bank of India, it mentioned.

As many as 292 circumstances of fraud price Rs 5,604.55 crore detected in Union Bank of India, 151 circumstances price Rs 5,556.64 crore in Indian Overseas Bank and 282 circumstances price Rs 4,899.27 crore in Oriental Bank of Commerce had been reported.

Besides, 1,867 circumstances involving complete quantity of Rs 31,600.76 crore had been 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 particular particulars of the character of banking fraud circumstances and the losses suffered by banks or their prospects resulting from these frauds.

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