RBI data reveals over 50,000 bank frauds in the last 11 fiscal years

Guwahati: Indian banks are suffering from a huge fraud attack and the total number of frauds recorded by the banks in the last 11 fiscal years can send one to the state of shock. As per an RBI data, the top three banks of India ICICI Bank, State Bank of India (SBI) and HDFC Bank reports having hit by over 50,000 frauds.

Of the three nationalized banks, ICICI bank reports having the highest number of 6,811 cases of fraud attack against it. The bank thus suffers from a fraud of Rs.5,033.81 crore.

Following it, the state-run State Bank of India (SBI) has reported 6,793 fraud cases that involve Rs. 23,734.74 crore. HDFC Banks records 2,497 such cases and it involves Rs. 1,200.79 crore. The cases of bank frauds have come to light following an RTI query.

Other nationalized banks like the Bank of Baroda has 2,160 fraud cases (that involves Rs 12,962.96 crore), Punjab National Bank faces 2,047 frauds (Rs.28,700.74 crore) and Axis Bank 1,944 fraud cases (Rs 5,301.69 crore).

Following details show the list of other banks of India that faces bank frauds:

Bank of India - 1,872 frauds (Rs. 12,358.2 crore)

Syndicate Bank - 1,783 cases (Rs. 5830.85 crore)

Central Bank of India’s - 1, 613 cases (Rs. 9041.98 crore)

IDBI Bank Ltd -1,264 cases (Rs.5978.96 crore)

Standard Chartered Bank - 1,263 cases (Rs. 1221.41 crore)

Canara Bank - 1,254 cases (Rs. 5553.38 crore)

Union Bank of India -1,244 cases (Rs. 11,830.74 crore)

Kotak Mahindra 1,213 cases (Rs.430.46 crore)

Indian Overseas Bank - 1,115 cases (Rs.12,644.7 crore)

Oriental Bank of Commerce - 1040 cases (Rs.5,598.23 crore)

United Bank of India - 944 cases (Rs. 3052.34 crore)

State Bank of Mysore - 395 cases (Rs. 742.31 crore)

State Bank of Patiala -386 cases (Rs.1178.77 crore)

Punjab and Sind Bank -276 cases (Rs.1154.89 crore)

UCO Bank - 1081 frauds (Rs.7104.77 crore)

Tamilnad Mercantile Bank Ltd- 261 cases (Rs.493.92 crore)

Lakshmi Vilas Bank Ltd - 259 frauds (Rs. 862.64 crore)

These are the Indian banks in addition to which there are certain foreign banks as well which are operating in India and are reported to having fraud cases worth crores.

Also read: Public sector banks continue with 180 days to resolve Jet Airways