INDORE: Twenty-one public sector banks (PSBs) have incurred losses totalling Rs 25,775 crore because of banking frauds within the financial yr 2017-18, a Right to Information answer has said.
The Punjab National Bank (PNB) had incurred the highest lack of Rs 6461.13 crore because of other circumstances of fraud during the fiscal that ended on March 31 this yr, Chandrasekhar Gaud, who had filed the RTI with the Reserve Bank of India, informed PTI these days.
He added that the reply, which was once sent to him on May 15, did not specify main points of any particular case of banking fraud.
One of the biggest banking frauds, allegedly involving diamond merchants Nirav Modi and Mehul Choksi and PNB officials, is being lately investigated via the Central Bureau of Investigation.
The investigating agency has filed two chargesheets within the special CBI court docket in Mumbai in connection with the Rs 12,636 crore PNB rip-off.
The RTI answer said that the State Bank of India had, during this period, incurred losses of Rs 2390.75 crore because of various circumstances of banking fraud.
In the given period, the Bank of India had incurred a lack of Rs 2,224.86 crore, Bank of Baroda's losses stood at Rs 1,928.25 crore, Allahabad Bank at Rs 1,520.37 crore, Andhra Bank at Rs 1,303.30 crore and Uco Bank at Rs 1,224.64 crore.
The RTI answer informed that the IDBI Bank incurred losses of Rs 1,116.53 crore, Union Bank of India had losses of Rs 1,095.84 crore, Central Bank of India of Rs 1,zero84.50 crore, Bank of Maharashtra of Rs 1,029.23 crore and Indian Overseas Bank had incurred a lack of Rs 1,015.79 crore.
The RBI has clarified within the RTI that handiest those circumstances of fraud involving a sum of over Rs 1 lakh had been incorporated within the checklist.
It, alternatively, did not disclose the numbers of circumstances or the character of fraud.
Other banks, as per the RTI, that confronted losses because of fraud during this period had been Corporation Bank with a lack of Rs 970.89 crore, United Bank of India with Rs 880.53 crore, Oriental Bank of Commerce with Rs 650.28 crore and Syndicate Bank with Rs 455.05 crore.
Canara Bank at Rs 190.77 crore, Punjab and Sind Bank at Rs 90.01 crore, Dena Bank at Rs 89.25 crore, Vijaya Bank at Rs 28.58 crore and Indian Bank at Rs 24.23-crore made up the remainder of the checklist equipped via RBI as part of its RTI answer.
Economist Jayantilal Bhandari, commenting on the RTI, mentioned that the condition of 21 PSBs of the rustic was once "extremely worrisome" because of banking fraud.
Bhandari mentioned, "With regard to fraud cases, the banks are not only facing huge economic losses, but the prospects of giving new loans by them in the future are also affected adversely. This situation is obviously not good for the economy."
The Punjab National Bank (PNB) had incurred the highest lack of Rs 6461.13 crore because of other circumstances of fraud during the fiscal that ended on March 31 this yr, Chandrasekhar Gaud, who had filed the RTI with the Reserve Bank of India, informed PTI these days.
He added that the reply, which was once sent to him on May 15, did not specify main points of any particular case of banking fraud.
One of the biggest banking frauds, allegedly involving diamond merchants Nirav Modi and Mehul Choksi and PNB officials, is being lately investigated via the Central Bureau of Investigation.
The investigating agency has filed two chargesheets within the special CBI court docket in Mumbai in connection with the Rs 12,636 crore PNB rip-off.
The RTI answer said that the State Bank of India had, during this period, incurred losses of Rs 2390.75 crore because of various circumstances of banking fraud.
In the given period, the Bank of India had incurred a lack of Rs 2,224.86 crore, Bank of Baroda's losses stood at Rs 1,928.25 crore, Allahabad Bank at Rs 1,520.37 crore, Andhra Bank at Rs 1,303.30 crore and Uco Bank at Rs 1,224.64 crore.
The RTI answer informed that the IDBI Bank incurred losses of Rs 1,116.53 crore, Union Bank of India had losses of Rs 1,095.84 crore, Central Bank of India of Rs 1,zero84.50 crore, Bank of Maharashtra of Rs 1,029.23 crore and Indian Overseas Bank had incurred a lack of Rs 1,015.79 crore.
The RBI has clarified within the RTI that handiest those circumstances of fraud involving a sum of over Rs 1 lakh had been incorporated within the checklist.
It, alternatively, did not disclose the numbers of circumstances or the character of fraud.
Other banks, as per the RTI, that confronted losses because of fraud during this period had been Corporation Bank with a lack of Rs 970.89 crore, United Bank of India with Rs 880.53 crore, Oriental Bank of Commerce with Rs 650.28 crore and Syndicate Bank with Rs 455.05 crore.
Canara Bank at Rs 190.77 crore, Punjab and Sind Bank at Rs 90.01 crore, Dena Bank at Rs 89.25 crore, Vijaya Bank at Rs 28.58 crore and Indian Bank at Rs 24.23-crore made up the remainder of the checklist equipped via RBI as part of its RTI answer.
Economist Jayantilal Bhandari, commenting on the RTI, mentioned that the condition of 21 PSBs of the rustic was once "extremely worrisome" because of banking fraud.
Bhandari mentioned, "With regard to fraud cases, the banks are not only facing huge economic losses, but the prospects of giving new loans by them in the future are also affected adversely. This situation is obviously not good for the economy."
21 PSBs lost Rs 25,775 crore to bank frauds in 2017-18: RTI
![21 PSBs lost Rs 25,775 crore to bank frauds in 2017-18: RTI]()
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May 28, 2018
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