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ICICI, SBI Top of bank fraud – RBI Report

Written by Anuj Prajapati

Reserve Bank of India RBI has released a report on bank fraud. In this report, ICICI Bank topped bank fraud case during April-December of the first 9 months of the current financial year. On the other hand, the public sector State Bank of India is located in the second place.

In the first nine months of the financial year, fraud cases of one lakh rupees or more were found in ICICI Bank. While ICICI Bank has 455 cases, 427 in SBI, 244 in Standard Chartered and 237 cases in HDFC Bank. During this period, cases of 150 frauds were reported in Bank of Baroda, 176 in Axis Bank, 189 in Citibank.

According to value, the highest number of cases registered by SBI was Rs 2,250.34 crore rupees. In Punjab National Bank (PNB) Rs 2,250.34 crore rupees and Axis Bank fraud cases worth Rs 1,998.49 crore have surfaced. According to the data submitted by the Reserve Bank to the Finance Ministry, bank employees have also been involved in fraud cases.

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Anuj Prajapati

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