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Banks lost Rs 2.05 lakh crore to fraud between 2008-09 and 2018-19, reveals RTI

The tally shows that the number of cases before 2016-17 hovered around 4,500 and the biggest hike was recorded only in 2016-17
New Delhi: Between financial years 2008-09 and 2018-19, banks in India lost a whopping Rs 2.05 lakh crore in around 50,000 cases of fraud reported in this period, RTI data has revealed. The largest number of fraud cases were reported at ICIC Bank, followed by the State Bank of India (SBI) and HDFC Bank, the Reserve Bank of India said. Of the total 53,334 cases of frauds, ICICI recorded the highest of 6,811 involving Rs 5,033.81 crore. The government-run SBI, on the other hand, reported 6,793 fraud cases involving Rs 23,734.74 crore followed by HDFC Banks which recorded 2,497 such cases involving Rs 1,200.79 crore.

What was the status of other banks?

While Bank of Baroda reported 2,160 fraud cases (involving Rs 12,962.96 crore), Punjab National Bank registered 2,047 frauds (Rs 28,700.74 crore) and Axis Bank had 1,944 fraud cases involving RS 5,301.69 crores of public money. Bank of India reported 1,872 frauds cases involving Rs 12,358.2 crores, Syndicate Bank discovered 1,783 cases involving Rs 5830.85 crore and Central Bank of India reported 1, 613 cases involving Rs 9041.98 crore, the data showed. IDBI reported 1,264 fraud cases involving Rs 5,978.96 crores, while Standard Chartered Bank recorded 1,263 cases involving Rs 1,221.41 crore, Canara Bank reported 1,254 cases of Rs 5,553.38 crore, Union Bank of India uncovered 1,244 frauds of Rs 11,830.74 crores and Kotak Mahindra reported 1,213 cases involving Rs 430.46 crore.

Year-wise tally shows the biggest surge in cases in 2016-17

During 2008-09, a total of 4,372 cases were registered involving Rs 1,860.09 crores. In 2009-10, Rs 1,998.94 crore worth fraud was reported in 4,669 cases. The number of cases decreased marginally to 4,534 in 2010-11 (Rs Rs 3,815.76 crore) and 4,093 in 2011-12 (Rs 4,501.15 crore). In 2012-13, 4,235 fraud cases involving Rs 8,590.86 crore were reported by banks as against 4,306 cases (involving Rs 10,170.81 crore) in 2013-14. In 2014-15, 4,639 cases involving Rs 19,455.07 crore were uncovered by banks. The number of cases reported in 2015-16 hovered around 4,693 (Rs 18,698.82 crore) in 2015-16 and then surged to 5,076 cases of fraud in 2016-17 (Rs 23,933.85 crore). The tally shows that the number of cases before 2016-17 hovered around 4,500 and the biggest hike was recorded only in 2016-17. The news comes just days after RBI revealed that bank fraud touched an unprecedented Rs 71,500 crores in FY2018-19 as over 6,800 cases were reported across the country.