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86% of Bank Frauds Linked to Loans, 99% in Case of PNB
February 23, 2018
As per the data with the Reserve Bank of India, as many as 86% of the banking frauds during 2016-17 were related to loans. However, for public sector Punjab National Bank (PNB) in particular, it makes for 99% of the frauds.
RBI data shows that around Rs. 23,903 crores were lost to banking frauds during 2016-17. PNB lost Rs. 2,808 crores out of which Rs. 2,788 crores were lost to frauds related to advances, i.e., 99.3% of the total amount.
