Amar Ujala Bureau, Mumbai.

Printed through: Yogesh Sahu
Up to date Wed, 30 Mar 2022 05:00 AM IST

Abstract

Many of the incidents of fraud happen within the lending itself. In such instances, both the mortgage is given in way over the norms or safety isn’t saved. On a daily basis in america, there may be an overview of credit score comparable issues, which isn’t achieved in Indian banks. For this, banks will have to represent a different group.

pay attention the inside track

The rustic has misplaced Rs 100 crore on a regular basis within the remaining seven years because of financial institution frauds. On the other hand, this loss quantity is declining yr after yr. In line with RBI, 83 in keeping with cent of banking fraud instances within the nation are in simply 5 states. Maharashtra tops it with 50 in keeping with cent, whilst Delhi is in 2d position. After that, many of the banking frauds are within the states like Telangana, Gujarat and Tamil Nadu.

In line with the information, from April 1, 2015 to December 31, 2021, banking frauds of about Rs 2.5 lakh crore came about in the entire states. On this, the proportion of those 5 states is greater than Rs 2 lakh crore i.e. 83%. RBI has divided banking frauds into 8 classes. On the other hand, the Finance Ministry says that steps were taken for reporting and prevention of such incidents. Because of this, the instances of banking fraud are lowering yearly.

a gradual decline in fraud

monetary yr Quantity (in Rs.)
2015-16 67,760 crore
2016-17 59,966 crore
2019-2020 27,698 crore
2020-21 10,699 crore

Within the first 9 months of the present monetary yr, this determine stood at Rs 6,479 crore. On the other hand, over time cyber fraud has additionally emerged as a brand new manner.

Instances larger in lending through ignoring the foundations
Many of the incidents of fraud happen within the lending itself. In such instances, both the mortgage is given in way over the norms or safety isn’t saved. On a daily basis in america, there may be an overview of credit score comparable issues, which isn’t achieved in Indian banks. For this, banks will have to represent a different group.

Y Sudarshan, former president of the All India Financial institution Officials’ Confederation, says that the incidents of fraud in banks have come down just lately for the reason that banks and the federal government are taking steps in combination. Banks make numerous efforts to keep away from exterior frauds, however they will have to make their workers liable for this. Particularly in such instances, the place there’s a prime lending.

Growth

The rustic has misplaced Rs 100 crore on a regular basis within the remaining seven years because of financial institution frauds. On the other hand, this loss quantity is declining yr after yr. In line with RBI, 83 in keeping with cent of banking fraud instances within the nation are in simply 5 states. Maharashtra tops it with 50 in keeping with cent, whilst Delhi is in 2d position. After that, many of the banking frauds are within the states like Telangana, Gujarat and Tamil Nadu.

In line with the information, from April 1, 2015 to December 31, 2021, banking frauds of about Rs 2.5 lakh crore came about in the entire states. On this, the proportion of those 5 states is greater than Rs 2 lakh crore i.e. 83%. RBI has divided banking frauds into 8 classes. On the other hand, the Finance Ministry says that steps were taken for reporting and prevention of such incidents. Because of this, the instances of banking fraud are lowering yearly.

a gradual decline in fraud

monetary yr Quantity (in Rs.)
2015-16 67,760 crore
2016-17 59,966 crore
2019-2020 27,698 crore
2020-21 10,699 crore

Within the first 9 months of the present monetary yr, this determine stood at Rs 6,479 crore. On the other hand, over time cyber fraud has additionally emerged as a brand new manner.

Instances larger in lending through ignoring the foundations

Many of the incidents of fraud happen within the lending itself. In such instances, both the mortgage is given in way over the norms or safety isn’t saved. On a daily basis in america, there may be an overview of credit score comparable issues, which isn’t achieved in Indian banks. For this, banks will have to represent a different group.

Y Sudarshan, former president of the All India Financial institution Officials’ Confederation, says that the incidents of fraud in banks have come down just lately for the reason that banks and the federal government are taking steps in combination. Banks make numerous efforts to keep away from exterior frauds, however they will have to make their workers liable for this. Particularly in such instances, the place there’s a prime lending.



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