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Instances of Bank Frauds Declined to 6,735 in FY19, Says Nirmala Sitharaman
July 04, 2019
This Tuesday, Finance Minister Nirmala Sitharaman informed the Parliament that the number of banking frauds involving ₹ one lakh or above reduced from 9,866 in the previous financial year to 6,735 in the present financial year. She said that the former involved around ₹4,288 crores while the latter involved ₹2,836 crores. She also said that a lax credit culture and insufficient discipline in the financial system are the two main reasons behind these frauds.
Photo credit: Gene Hunt on Visualhunt / CC BY
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