RBI data on bank frauds on basis of reporting year, not occurrence date: Finance ministry
Updated : June 05, 2019 04:40 PM IST
The Reserve Bank of India (RBI) in an RTI reply had disclosed that over 6,800 cases of bank fraud involving an unprecedented Rs 71,500 crore were reported in 2018-19 as against a total of 5,916 such cases in 2017-18 involving Rs 41,167.03 crore.
The RBI data on frauds reported to it by banks has been cited in sections of the media to paint a picture of rising frauds in banks in recent years, the ministry said.
The ministry said proactive measures undertaken by the government in the past few months have led to increase in detection and reporting of bank frauds.