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ICICI records highest number of fraud cases, SBI a close second, says RBI

About 450 bank employees have been involved in fraud cases worth Rs 17,750 crore in public and private sector banks from April to December 2016.

As many as 455 fraud cases involving Rs one lakh and above were recorded in ICICI Bank between April 2016 to December 2016, data received from the Reserve Bank of India has showed. While ICICI topped the list of banks that have witnessed frauds, State Bank of India came second with 429 such cases, and Standard Chartered with 244 cases at third position.

However, SBI reported illegal transactions involving more than Rs 2,200 crore while Punjab National Bank saw fraud of Rs 2,250 crore. Axis Bank reported 189 cases of bank fraud in the mentioned period, involving Rs 1,998 crore.

About 450 bank employees have been involved in fraud cases worth Rs 17,750 crore in different public and private sector banks from April to December 2016, the data said. In the case of HDFC, which has recorded 237 such instances, 49 of its employees were involved in these cases.

 

Source: https://scroll.in

(Note: This Story has been completely carried over from https://scroll.in and NewsToday.Buzz has not edited the content)

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