Bank fraud touches unprecedented Rs 71,500 crore in 2018-19: RBI

Over 6,800 cases of bank fraud involving an unprecedented Rs 71,500 crore have been reported in 2018-19, the Reserve Bank of India has said.

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A total of 5,916 such cases were reported by banks in 2017-18 involving Rs 41,167.03 crore, it said.As many as 6,801 cases of fraud were reported by scheduled commercial banks and select financial institutions involving an amount of Rs 71,542.93 crore in the last fiscal (increase of over 73 per cent in the fraud amount), the Reserve Bank of India (RBI) said in reply to an RTI query filed by this PTI journalist.

In the last 11 fiscal years, a total of 53,334 cases of fraud were reported by banks involving a massive amount of Rs 2.05 lakh crore, the central bank’s data said.During 2008-09, a total of 4,372 cases were reported involving an amount of Rs 1,860.09 crore. In 2009-10, Rs 1,998.94 crore worth fraud was reported in 4,669 cases.