Nothing good news is coming for the banking sector. According to the latest report, a total of 8926 cases of bank fraud have been reported in the three quarters (April-December) of FY 2019-20 . This amount of bank fraud is Rs 1.17 lakh crore. This was revealed through an RTI.
According to the RTI revelations, State Bank of India has suffered the most from bank fraud. There are frauds of 30300 crores with SBI. SBI has registered a total of 4769 cases of fraud. There have been 294 cases of fraud with Punjab National Bank and the bank has been assessed a loss of 14928.62 crores.
Bank of Baroda, 11166.19 crore in 250 cases, Allahabad Bank 6781.57 crore in 860 cases, Bank of India 6626.12 crore in 161 cases, Union Bank 5604.55 crore in 292 cases, Indian Overseas Bank 151 5556.64 crores in cases, Oriental Bank has reported fraud of 4899.27 crores in 282 cases, Canara Bank 31600.76 crores in 1867 cases. The Reserve Bank has not given much information about the fraud. He also did not disclose how much damage has been caused to the banks and its customers.