RBI: Bank fraud has touched ₹71,500 crore in 2018-19

11:30:00 PM, Monday 3rd of June 2019 | in business

More than 6,800 cases of bank fraud worth ₹71,500 crore were reported in 2018-19, according to RBI. Interestingly, in 2017-18, a total of 5,916 such involving ₹41,167.03 crore were reported. In the last fiscal, around 6,801 fraud cases were reported by commercial banks and financial institutions involving ₹71,542.93 crore. Over the past 11 fiscal years, a total of 53,334 fraud cases have been reported by banks.