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Over 5,000 Fraud Banking Cases Reported During 2016-17
July 31, 2017
As many as 5,076 cases of banking frauds worth Rs. 1 lakh or more were reported by 76 banks during the last fiscal year. Minister of State for Finance Santosh Kumar Gangwar made this revelation in the Rajya Sabha. He mentioned that the combined loss has amounted to Rs. 16,78,853 lakhs.
While the largest lender State Bank of India reported a net loss of Rs. 1,91,295 lakh in 544 cases, ICICI bank reported a loss of Rs. 36,844 lakhs through 688 fraud cases.
