More than 12000 cases of Bank Fraud detected in the last 3 years
Diamond businessman Nirav Modi has been accused for fraudulent transactions worth of Rs 11,400 crore in Punjab National Bank a public sector bank which has given a big shock to the banking system. In this context, the number of frauds in public sector banks in the last three years is revealed. According to the Reserve Bank of India, there were around 8,622 frauds in government banks in the last three financial years. Minister of State for Finance Shiva Pratap Shukla said in a written reply to the Lok Sabha this month. The Punjab government has registered 471 cases of fraud in the 2014-15, 2015-16 and 2016-17 financial years.
In the 2014-15 fiscal year, PNB recorded 180 cases, followed by 131 in 2015-16 and 160 by 2016-17, Shukla told to Lok Sabha in a written reply. State Bank of India has faced largest number of fraud among public sector banks in country. SBI has recorded 893 cases in the financial year 2014-15. In the next financial year, there were 770 cases, followed by 803 cases in the next fiscal year. The Bank of Baroda is in the next place. Of these, 303 cases were recorded in financial year 2014-15 followed by 255 and 224 cases in the and the following years.
According to Shukla, the bank has taken action against 2,748 bank employees who are involved in the fraud in the 2015 fraud cases. In 2016, bank took action against 1,994 employees and from January to March 2017 action were taken against 458 employees. In private sector banks, fraudulent frauds are lower than public sector banks. In the three financial years from 2014 to 2017, 4,156 cases were registered in private sector banks. 568 employees were involved in fraud.