The names of Vijay Mallya, Nirav Modi, Mehul Choksi come to mind when it comes to fraud of crores of rupees with the bank. Although the number of bank frauds in the country has come down this year, the amount is still in the crores of rupees.
Fraud of over Rs 100 crore
According to an RBI report, the amount involved in more than Rs 100 crore fraud cases in the year 2021-22 was Rs 41,000 crore as against Rs 1.05 lakh crore in the previous financial year.
The report said that the number of fraud cases in private and public sector banks dropped to 11 in 2021-22 from 265 in 2020-21. As far as public sector banks are concerned, the number of fraud cases of more than Rs 100 crore has come down from 167 to 80, while the number of such cases in private sector banks has come down from 98 to 38.
The amount involved in public sector bank fraud has come down to Rs 28,000 crore from Rs 65,900 crore in 2020-21. For a private sector bank, this amount has come down from Rs 39,900 crore to Rs 13,000 crore.
Earlier this year, SBI witnessed the largest bank fraud of Rs 22,842 crore by ABG Shipyard and its promoters. This amount is more than the Rs 14,000 crore fraud committed by Nirav Modi with the Punjab National Bank.
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