Bank fraud touches Rs 71,543 crores in FY19

Mumbai: The number of cases of frauds reported by banks saw a jump of 15 per cent year-on-year basis in 2018-19, with the amount involved increasing by 73.8 per cent in the year, RBI's annual report showed.

In FY19, banking sector reported 6,801 frauds involving Rs 71,542.93 crore as against 5,916 cases involving Rs 41,167.04 crore reported in 2017-18.

Among bank groups, PSBs, which constitute the largest market share in bank lending, have accounted for the bulk of frauds reported in 2018-19.