India: PSU banks report fraud of over Rs 95,000 cr in Apr-Sep


November 2019

In a staggering rise in bank fraud, the country’s public sector lenders reported embezzlement of over Rs 95,760 crore in the first six months (April-September) of the current financial year (2019-20) with the number of cases reaching 5,743.

This was informed by Finance Minister Nirmala Sitharaman in a written reply to a Rajya Sabha question. The amount involved of fraud cases reported in the first six months of FY20 is higher than the cumulative amount in the past five years, according to the data available with the finance ministry.