Over 23,000 bank frauds worth Rs 1 lakh crore reported in 5 years: RBI

NEW DELHI: Over 23,000 cases of fraud involving a whopping Rs 1 lakh crore have been reported prior to now 5 years in various banks, consistent with the Reserve Bank of India (RBI).

A total of five,152 cases of fraud, up from over 5,000 cases in 2016-17, have been reported in banks from April, 2017, to March 1, 2018, it mentioned in respond to an RTI query filed through this correspondent.

The best possible ever quantity of Rs 28,459 crore is said to have been serious about those cases of fraud reported from April, 2017, to March 1, 2018, the central bank mentioned.

In 2016-17, banks had reported 5,076 cases of fraud involving Rs 23,933 crore.

From 2013 to March 1, 2018, as many as 23,866 cases of fraud, of Rs 1 lakh or above in every case, have been reported. A total of Rs 1,00,718 crore was serious about all the cases put together, consistent with the RTI reply.

Giving the break-up, the RBI mentioned four,693 such cases (involving Rs 18,698 crore) and four,639 cases (involving Rs 19,455 crore) have been reported in 2015-16 and 2014-15 respectively.

In 2013-14, banks reported four,306 cases of fraud, involving Rs 10,170 crore, the central bank mentioned.

"The reported fraud cases are processed and action is taken according to the facts and circumstances of individual cases," the RBI mentioned.

The knowledge assumes importance as central investigating businesses such as the CBI and the ED are having a look into various big-ticket fraud cases in banks involving industrialists and others.

Among the outstanding ones is the over Rs 13,000-crore fraud in the Punjab National Bank (PNB) allegedly committed through diamantaire Nirav Modi and his uncle Mehul Choksi, the promoter of Gitanjali Gems.

The CBI had recently also booked most sensible officials of two public sector banks, a former CMD of the IDBI Bank, former Aircel promoter C Sivasankaran, his son and companies managed through him in connection with a Rs 600-crore mortgage fraud in the IDBI.

The CBI has named 15 bank officials who labored at senior ranges on the IDBI in 2010 and 2014 when loans have been sanctioned to the companies managed through Sivasankaran in its FIR registered on a criticism from the Central Vigilance Commission.


Managing Director and CEO of Indian Bank Kishor Kharat (who was then MD and CEO of IDBI Bank) and his counterpart in Syndicate Bank Melwyn Rego (then Deputy Managing Director in IDBI Bank), along with then Chairman-cum- Managing Director of IDBI Bank M S Raghavan, have been named in the latest FIR filed through the CBI.


According to govt knowledge, the gross non-performing assets (NPAs) of all banks in the country, amounting to Rs 8,40,958 crore in December 2017, have been led through business loans followed through those in the services and agriculture sectors.


The best possible quantity of gross NPAs was for the rustic's largest lender, the State Bank of India, at Rs 2,01,560 crore.


Among the others, the NPA for PNB stood at Rs 55,200 crore and for IDBI Bank, Rs 44,542 crore. Bank of India had NPAs value Rs 43,474 crore; Bank of Baroda, Rs 41,649 crore; Union Bank of India, Rs 38,047 crore; Canara Bank, Rs 37,794 crore and ICICI Bank, Rs 33,849 crore, consistent with knowledge introduced through Minister of State for Finance Shiv Pratap Shukla in the Lok Sabha on March 9.
Over 23,000 bank frauds worth Rs 1 lakh crore reported in 5 years: RBI Over 23,000 bank frauds worth Rs 1 lakh crore reported in 5 years: RBI Reviewed by Kailash on May 03, 2018 Rating: 5
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