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6800 cases of fraud in banks in 2018-19

The Reserve Bank of India said there were 6800 instances of bank frauds involving Rs 71,500 crore in 2018-19. In the previous year, there were 5916 such cases involving Rs 41,167.03 crore. There were 6801 cases of fraud in scheduled commercial banks and select financial institutions involving an amount of Rs 71,542.93 crore in 2018-19, which is an increase of over 73% in the fraud amount), the central bank said in response to an RTI query. The response also mentioned that there were 53,334 cases of fraud in the last 11 financial years, involving a massive amount of Rs 2.05 lakh crore. It added that cases of fraud reported to RBI are required to be filed by banks as criminal complaints with law enforcement agencies. The information in respect of action being taken or already taken is not available readily.

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