As many as 455 fraud cases, including some of Rs. 1 lakh and above, were detected in ICICI Bank during the current fiscal’s first nine months. These numbers were followed closely by SBI with 429 cases, then Standard Chartered with 244 and HDFC Bank with 237.
Axis Bank reported 189 cases, Bank of Baroda 176 cases and Citibank had 150, these are some of the other banks that reported frauds according to the data shared with the apex bank during the period.
In terms of value, SBI reported frauds of Rs. 2,236.81 crore, this was followed by Punjab National Bank (PNB) of Rs. 2,250.34 core and Axis Bank with 1,998.49 crore.
The involvement of bank staff was also reported in the data provided by RBI to the Finance Ministry. SBI reported 64 employees involved in fraud cases while HDFC reported 49 and Axis Bank had 35.
Including public and private sector banks during April-December 2016, the total value amounted to Rs. 17,750.27 crore with 3,870 cases and 450 employees, in all, involved.