Bank Frauds Jump 74% To Rs. 71,543 Crore In 2018-19, Says RBI | Read
PUBLISHED ON: August 29, 2019 | Duration: 1 min, 59 sec
Frauds in the banking system shot up by 74 per cent to Rs. 71,543 crore in financial year 2018-19 compared with frauds worth Rs. 41,167 crore committed in the financial year 2017-18, the Reserve Bank of India said in its annual report on Thursday. The average lag between the date of occurrence of frauds and its detection by banks was 22 months, the Reserve Bank's report said.