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Fraud Amount Jumps 3 Times in FY25, Public Sector Banks Hit More
The Daily Guardian
|May 30, 2025
The overall number of frauds, including those related to loan accounts and digital payments, jumped by three times in FY25, primarily due to reclassification of 122 cases as per a Supreme Court order, the Reserve Bank said on Thursday.
The fraud value jumped to Rs 36,014 crore in FY25, up from Rs 12,230 crore in the previous fiscal year, while the number of fraud cases went down to 23,953 in FY25 from 36,060 in FY24.
"The increase in the amount involved in the total frauds reported during 2024-25 over 2023-24 was mainly due to removal of fraud classification in 122 cases amounting to Rs 18,674 crore reported during previous financial years and reporting afresh during the current financial year after re-examination and ensuring compliance with the judgement of the Hon'ble Supreme Court dated March 27, 2023," the report explained.
This story is from the May 30, 2025 edition of The Daily Guardian.
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