April-June Quarter,2,867 Cases Of Fraud In Public Sector Banks

April-June quarter, 2,867 cases of fraud involving Rs 19,964 crore in public sector banks, know full details. In the April-June quarter of the current fiscal, 2,867 cases of fraud involving Rs 19,964 crore came to light in public sector banks.

This information has been revealed by the information sought under the Right to Information (RTI). RTI activist Chandrashekhar Gaur had sought this information from the Reserve Bank of India (RBI).

The country’s largest State Bank of India (SBI) had the highest number of frauds by number. Bank of India (BOI) was the most affected by fraud in terms of value.

According to the data, SBI had the highest number of 2,050 cases of fraud in 12 public sector banks in April-June 2020. A total of Rs 2,325.88 crore fraud has been reported in these cases.

Bank of India was hurt the most by value fraud. Bank of India has reported 47 cases of fraud of Rs 5,124.87 crore during the period under review.

Apart from this, 33 of frauds worth Rs. 3,885.26 crores in Canara Bank, 60 of frauds of Rs. 2,842.94 crores in Bank of Baroda, 45 of frauds of Rs. 1,469.79 crores in Indian Bank, 37 of frauds of Rs. 9 cases of fraud involving Rs 1,140.37 crore came to light in Maharashtra.

Punjab National Bank (PNB), the second-largest public sector bank in the country, reported only Rs 270.65 crore fraud cases during this period. However, there were 240 cases of fraud with the bank.

In the same period, 130 fraudulent frauds of Rs 831.35 crore in UCO Bank, 149 frauds worth Rs 655.84 crore in Central Bank of India, 18 fraudulent frauds of Rs 163.3 crore in Punjab and Sindh Bank, and 46.52 crore frauds in Union Bank of India. 49 cases were reported.

RBI has said in its reply that these figures given by banks are preliminary. These can be amended. The Reserve Bank made it clear that the amount related to fraud is not the same amount of loss to the bank.