Frauds worth Rs 32,000 crore rattle 18 public banks within three months, reveals RTI

By Dilip -
A total of 2,480 cases of fraud involving a huge sum of Rs 31,898.63 crore rattled 18 public sector banks in between April and June this year, an RTI query has revealed. The country's largest lender State Bank of India (SBI) remained the biggest prey to frauds with 38 per cent share, Neemuch-based activist Chandrashekhar Gaur told PTI on Sunday quoting an official of the RBI who furnished him replies to his RTI application.

As many as 1,197 cases of cheating involving Rs 12,012.77 crore were detected in SBI in the first quarter, according to the RTI reply. After SBI, Allahabad Bank faced the heat with 381 cheating cases involving Rs 2,855.46 crore. Punjab National Bank stood third in the list with 99 sham cases worth Rs 2,526.55 crore. However, the information provided by the RBI does not give specific details of the nature of banking fraud and the losses suffered by banks or their customers.

On losses suffered by PSU banks due to frauds, the RBI said it did not have figures available as to how much amount was lost by theses banks during the period under review. A total of 75 cases of fraud involving Rs 2,297.05 crore were reported in Bank of Baroda in the first quarter, while 45 cases of fraud amounting to Rs 2,133.08 crore in Oriental Bank of Commerce, 69 cases worth Rs 2,035.81 crore in Canara Bank, 194 cases worth Rs 1,982.27 crore in Central Bank of India, 31 cases of fraud of Rs 1,196.19 crore in United Bank of India were witnessed.


Likewise, Corporation Bank detected Rs 960.80 crore worth fraud in 16 cases, Indian Overseas Bank Rs 934.67 crore in 46 cases, Syndicate Bank Rs 795.75 crore in 54 cases, Union Bank of India Rs 753.37 crore in 51 cases, Bank of India, Rs 517 crore in 42 cases and UCO Bank detected Rs 470.74 crore fraud in 34 cases. Other banks, which fell victim to fraud included Bank of Maharashtra, Andhra Bank, Indian Bank and Punjab and Sind Bank.... read more:
https://www.indiatoday.in/business/story/frauds-worth-rs-32-000-crore-rattle-18-public-banks-within-three-months-reveals-rti-1596960-2019-09-08

see also
51st Victim: IB Officer Investigating Vyapam Scam Killed In A Road Accident
MD HIZBULLAH AND ATUL DEV: How the Vyapam SIT chief, judges and journalists benefited from government largesse in Madhya Pradesh
Narendra Modi's Republic of Fear
Billionaire at Heartof Vyapam Scam Funded BJP, RSS Leaders: Tax Report // Vyapam probe threatens to drag in Sangh Parivar elders
IPS officer crushed to death by mining mafia in MadhyaPradesh
Journalist Covering MP's Vyapam Scam ...
RAKESH DIXIT - Multi-layered (and murderous) Vyapam scandal explained
Mukul Kesavan: Intimations of evil - The Vyapam deaths
CHARU KARTIKEYA - After Vyapam, another scandal may be brewing in Madhya Pradesh
Mukul Kesavan: Intimations of evil - The Vyapam deaths
Sanjiv Chaturvedi: zero tolerance for honesty in the Narendra Modi government
R K Misra on corruption and the Modi government. Forked Tongue & Flexible Factsheet
At Risk of Death, Will Expose Chief Minister Chouhan:Vyapam Whistle-Blower
Journalist Covering MP's Vyapam Scam Suddenly Falls Ill, Dies
Over 40 dead in 2 years: The mysterious deaths in Madhya Pradesh's Vyapam scam have a sinister edge // Is Shivraj Chouhan's govt in Madhya Pradesh getting away with murder?
Vyapam Scam: 2 Special Task Force Officials Receive Threats
New Petition In Supreme Court Calls for CBI Probe in Vyapam Scam
RAKESH DIXIT - M.P. Government Turns on Vyapam Whistleblower Anand Rai
Billionaire at Heart of Vyapam Scam Funded BJP, RSS Leaders: Tax Report
Barkha Dutt - How Namrata Damor's murder was cloaked as suicide
Vyapam troubles loom for RSS: probe threatens to drag in Sangh Parivar elders

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