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Bank fraud in India: THIS state recorded the highest scams in 9 months

As per the data released by the RBI, India lost a whopping Rs 34,097 crore in the last nine months.
01:02 PM Mar 30, 2022 IST | APN Live
bank fraud in india  this state recorded the highest scams in 9 months

The Reserve Bank of India released a latest data showing that India lost nearly Rs 100 crore every day to bank frauds over the past seven years. In the last nine months, as many as 27 scheduled commercial banks and financial institutions reported ninety cases of fraud.


As per the data released by the RBI, India lost a whopping Rs 34,097 crore in the last nine months.

Punjab National Bank topped the list of frauds with Rs 4,820 crore. The Bank of India secured the second spot with 13 frauds worth Rs 3,925 crore. The third highest number of frauds took place in Yes Bank. As per the data, 11 frauds worth Rs 3,869 were witnessed by the bank.


State Bank of India had eight frauds involving Rs 3,902 crore and Canara Bank had five frauds amounting Rs 2,658 crore.

Which state recorded the highest bank frauds in the last nine months?

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The state that recorded the highest number of bank frauds is Mumbai. The financial capital involved 50% of the amount out of the total bank scams in India. Delhi, Telangana, Gujarat, and Tamil Nadu witnessed the second, third, fourth, and fifth respectively number of frauds.

According to the RBI data, these five states together accounted 83% of bank frauds amounting Rs 2 lakh crore.

RBI classifies frauds under eight categories

  • Misappropriation and criminal breach of trust
  • Fraudlent enchashment through forged instruments
  • Manipulation of books of account or through fictitious accounts and conversion of property
  • Unauthorised credit facilities extended for reward or for illegal gratification
  • Negligence and cash shortages
  • Cheating and forgery
  • Irregularities in foreign exchange transactions

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