RBI Financial Stability Report: Bank frauds surge to whopping Rs 1.13 lakh crore in H1 FY20
Updated : December 28, 2019 09:46 AM IST
This involved 4,412 fraud cases of Rs 1 lakh and above, as per the report. In FY19, banks had reported 6,801 cases of fraud involving Rs 71,543 crore.
The amount involved in frauds that occurred between FY01 and FY18 formed about 90.6 percent of the frauds reported in 2018-19 in terms of value.
Similarly, 97.3 percent of the frauds reported in the first half of FY20 by value occurred in previous financial years.