The amount involved in fraud cases reported by public sector banks (PSBs) has come down to Rs 3,204 crore in the last fiscal from Rs 28,884 crore in 2017-18, Parliament was informed on Tuesday.
As per the RBI data, PSBs reported 5,624 cases of fraud in 2017-18, involving Rs 28,884 crore. In 2018-19, a total of 9,092 cases were reported amounting to Rs 26,720 crore, while in 2019-20, the number of frauds rose to 11,074, involving a monetary value of Rs 21,170 crore, Minister of State for Finance Bhagwad Karad said in a written reply to the Rajya Sabha.
In 2020-21, PSBs reported 4,680 fraud cases of Rs 7,306 crore, which declined to 2,369 cases corresponding to Rs 3,204 crore in 2021-22, he added.
Karad said an online searchable database of frauds reported by banks has been set up in the form of the Central Fraud Registry.
It has enabled timely identification, control and mitigation of fraud risk and also to carry out due diligence during…
