Country Loses Rs 100 cr Per Day To Bank Frauds, Scamming: RBI
Guwahati: India lost at least Rs 100 crore every day to bank fraud or or scams over the past seven years, although there was a year-on-year reduction in the total amount involved, according to RBI data.
As per the report, Maharashtra has ranked first in this table and accounted for 50% of the money involved. The state has been followed by Delhi, Telangana, Gujarat and Tamil Nadu, and together these states accounted for Rs. 2 lakh crore, which is 83% of the quantum of the money lost to financial fraud.
A banking fraud of Rs. 2.5 lakh was detected across states between the time period from April 1, 2015 and December 31 last year.
The frauds have been classified into eight categories by the RBI: misappropriation and criminal breach of trust; fraudulent encashment through forged instruments, manipulation of books of account or through fictitious accounts and conversion of property; unauthorised credit facilities extended for reward or for illegal gratification; negligence and cash shortages; cheating and forgery; irregularities in foreign exchange transactions and any other type of fraud not coming under the specific heads as above.
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