A record Rs 1.13 lakh crore banking fraud cases have come to light in the first half of the current financial year. According to an RBI report, fraud cases have reached record levels due to delays in fraud detection by banks. According to this report, 4,412 cases of banking fraud amount to more than one lakh rupees. In the last financial year, banks reported 6,801 cases worth Rs 71,543 crore. The RBI's Financial Stability Report states, "In the first half of FY 2018-19 and FY 2019-20, analysis of fraud cases has revealed that the time between the time of fraud and the detection of it is significant. There is a difference. "
Of the frauds that came to light in the first half of the financial year 2019-20, 97.3 percent fraud in terms of value was in the last financial years. At the same time, 398 cases worth more than Rs 50 crore were recorded in this period. Its total value is 1.05 lakh crore rupees. Banks have reported 21 cases of fraud worth Rs 1,000 crore. A total of Rs 44,951 crore fraud was committed in these 21 cases. This report states that in the financial year 2018-19, 90 percent of the total fraud and 97 percent of the cases in the first half of the current financial year are related to loans.
The Reserve Bank of India is also taking steps to include cases of fraud reported by NBFCs and Co-operative Banks in the Central Fraud Registry database. According to the central bank, this interlinking will help in the detection and monitoring of fraud. It has said that the government's emphasis is on better administration.
