Frauds worth Rs 32,000 crore rattle 18 public banks within three months, reveals RTI

[Kool_SRG]

In the first quarter of the fiscal, 18 public sector banks were rattled by 2,480 cases of fraud involving a huge sum of Rs 31,898.63 crore.

 

18 public sector banks in between April and June this year, an RTI query has revealed.

The country's largest lender State Bank of India (SBI) remained the biggest prey to frauds with 38 per cent share, Neemuch-based activist Chandrashekhar Gaur told PTI on Sunday quoting an official of the RBI who furnished him replies to his RTI application.

As many as 1,197 cases of cheating involving Rs 12,012.77 crore were detected in SBI in the first quarter, according to the RTI reply.

After SBI, Allahabad Bank faced the heat with 381 cheating cases involving Rs 2,855.46 crore. Punjab National Bank stood third in the list with 99 sham cases worth Rs 2,526.55 crore.

However, the information provided by the RBI does not give specific details of the nature of banking fraud and the losses suffered by banks or their customers.

On losses suffered by PSU banks due to frauds, the RBI said it did not have figures available as to how much amount was lost by theses banks during the period under review.

A total of 75 cases of fraud involving Rs 2,297.05 crore were reported in Bank of Baroda in the first quarter, while 45 cases of fraud amounting to Rs 2,133.08 crore in Oriental Bank of Commerce, 69 cases worth Rs 2,035.81 crore in Canara Bank, 194 cases worth Rs 1,982.27 crore in Central Bank of India, 31 cases of fraud of Rs 1,196.19 crore in United Bank of India were witnessed.

Likewise, Corporation Bank detected Rs 960.80 crore worth fraud in 16 cases, Indian Overseas Bank Rs 934.67 crore in 46 cases, Syndicate Bank Rs 795.75 crore in 54 cases, Union Bank of India Rs 753.37 crore in 51 cases, Bank of India, Rs 517 crore in 42 cases and UCO Bank detected Rs 470.74 crore fraud in 34 cases.

Other banks, which fell victim to fraud included Bank of Maharashtra, Andhra Bank, Indian Bank and Punjab and Sind Bank.

[Idassamed]

[Idassamed]

All gone. Recovery ayye sances emaina unnaya?

[Kool_SRG]

Ee fraud gaalla pani baagundi eellu dabbulu nokkesi eganaamam petestunnaru bankulaki genuine ga katevallu edavalu..Mellaga mondi bakaayilu ani file close chestunnaru.. 

[Idassamed]

Internal gaa involve ayina vallu kooda untaru.

[Kool_SRG]

Just now, Idassamed said:

All gone. Recovery ayye sances emaina unnaya?

Highly doubt it if they will fully recovered.. Political link unnolle nokkesi untaaru konni rojulu laagutaaru edo taravaata NPA ani moosestaaru.. 

[hyperbole]

Mukesh ambani ki 2.88 lakh crores appubunnadi anta, vadiki emmana ayite desam devala tesinnatte.he may be more wanted and valuable than a PM. He is financially sound for now but exposure to some much debt is a risk to the banks on one individual/conpany..in perspective RBI gave only 1.75 lakh crores to the Indian Government 

 

[Idassamed]

Just now, Kool_SRG said:

Highly doubt it if they will fully recovered.. Political link unnolle nokkesi untaaru konni rojulu laagutaaru edo taravaata NPA ani moosestaaru.. 

Yup

[Kool_SRG]

1 minute ago, Idassamed said:

Internal gaa involve ayina vallu kooda untaru.

Adhi lekunda ayye pani kaadu.. Aallaki edo % commison set chesukoni untaaru.. 

[Idassamed]

Just now, hyperbole said:

Mukesh ambani ki 2.88 lakh crores appubunnadi anta, vadiki emmana ayite desam devala tesinnatte.he may be more wanted and valuable than a PM

 

These people run the show. 

[Kool_SRG]

Just now, hyperbole said:

Mukesh ambani ki 2.88 lakh crores appubunnadi anta, vadiki emmana ayite desam devala tesinnatte.he may be more wanted and valuable than a PM

 

[hyperbole]

11 minutes ago, Idassamed said:

These people run the show. 

Exactly man, okka startup idea unna vaniki okka 10lakhs kuda loan ivvaru banks, how can the indigenous  innovation happen, we are always looking towards west to borrow their discoveries/inventions. Classic example is Indian farm mechanization is literally 50-60 years backwards when compared to the west and we don’t incentivize the people to make tools useful for local farm sector and a matter of fact any sector. Have you seen how roads are laid US vs India few years ago (now they started importing machinery from abroad even for that we didn’t invent anything sophisticated  for our road conditions)

[Idassamed]

32 minutes ago, hyperbole said:

Exactly man, okka startup idea unna vaniki okka 10lakhs kuda loan ivvaru banks, how can the indigenous  innovation happen, we are always looking towards west to borrow their discoveries/inventions. Classic example is Indian farm mechanization is literally 50-60 years backwards when compared to the west and we don’t incentivize the people to make tools useful for local farm sector and a matter of fact any sector. Have you seen how roads are laid US vs India few years ago (now they started importing machinery from abroad even for that we didn’t invent anything sophisticated  for our road conditions)

Gp

[hawaiibabu]

2 hours ago, Kool_SRG said:

In the first quarter of the fiscal, 18 public sector banks were rattled by 2,480 cases of fraud involving a huge sum of Rs 31,898.63 crore.

 

18 public sector banks in between April and June this year, an RTI query has revealed.

The country's largest lender State Bank of India (SBI) remained the biggest prey to frauds with 38 per cent share, Neemuch-based activist Chandrashekhar Gaur told PTI on Sunday quoting an official of the RBI who furnished him replies to his RTI application.

As many as 1,197 cases of cheating involving Rs 12,012.77 crore were detected in SBI in the first quarter, according to the RTI reply.

After SBI, Allahabad Bank faced the heat with 381 cheating cases involving Rs 2,855.46 crore. Punjab National Bank stood third in the list with 99 sham cases worth Rs 2,526.55 crore.

However, the information provided by the RBI does not give specific details of the nature of banking fraud and the losses suffered by banks or their customers.

On losses suffered by PSU banks due to frauds, the RBI said it did not have figures available as to how much amount was lost by theses banks during the period under review.

A total of 75 cases of fraud involving Rs 2,297.05 crore were reported in Bank of Baroda in the first quarter, while 45 cases of fraud amounting to Rs 2,133.08 crore in Oriental Bank of Commerce, 69 cases worth Rs 2,035.81 crore in Canara Bank, 194 cases worth Rs 1,982.27 crore in Central Bank of India, 31 cases of fraud of Rs 1,196.19 crore in United Bank of India were witnessed.

Likewise, Corporation Bank detected Rs 960.80 crore worth fraud in 16 cases, Indian Overseas Bank Rs 934.67 crore in 46 cases, Syndicate Bank Rs 795.75 crore in 54 cases, Union Bank of India Rs 753.37 crore in 51 cases, Bank of India, Rs 517 crore in 42 cases and UCO Bank detected Rs 470.74 crore fraud in 34 cases.

Other banks, which fell victim to fraud included Bank of Maharashtra, Andhra Bank, Indian Bank and Punjab and Sind Bank.

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[mustang302]

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