The number of bank frauds has increased 48% to 13,530 in the previous financial year, according to RBI's Annual Report. A total of 9,097 frauds had taken place in 2021-22.
However, the value of frauds has plunged by 50% to ₹30,252 crore in 2022-23 as compared to the ₹59,819 crore in 2021-22. In 2020-21, the number of frauds was 7,338 and amount involved was ₹1,32,389 crore.
"An assessment of bank group-wise fraud cases over the last three years indicates that while private sector banks reported maximum number of frauds, public sector banks continued to contribute maximum to the fraud amount during 2022-23," according to the report.
Esta historia es de la edición May 31, 2023 de The Morning Standard.
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