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RBI annual report reveals lenders take nearly 5 years to detect large fraud

Updated : August 30, 2019 11:53 AM IST

Value of bank frauds in FY19 has risen 74 percent, shows RBI's annual report
Average lag between date of occurrence of fraud & detection by banks is 22 months
Banks are taking 55 months to detect fraud cases of over Rs 100 crore

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