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₹1.1 Lakh Cr Lost In Fresh Bank Frauds
Mail Today
|February 04, 2020
New cases come to light during April-September of 2019-20
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Frauds to the tune of a whopping Rs 1,13,374 crore were reported by banks and select financial institutions in the first half of the current fiscal year, Finance Minister Nirmala Sitharaman informed Parliament on Monday.
In a written reply to a question in the Lok Sabha, the minister said the government in 2015 had issued a framework for timely detection, reporting, and investigation relating to large value bank frauds in public sector banks involving sums of money in excess of Rs 50 crore.
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