ICICI Bank, SBI, StanChart Top Bank Frauds List, Says Reserve Bank Data

New Delhi: ICICI Bank topped the list of banks that witnessed most number of frauds during April-December period of 2016 with state-owned SBI taking the second spot, RBI data said.

During the first nine months of the current fiscal, as many as 455 fraud cases involving Rs. 1 lakh and above were detected in ICICI Bank, closely followed by SBI (429), Standard Chartered (244) and HDFC Bank (237).

Rs. 2,236.81 crore were reported in SBI, followed by Punjab National Bank (Rs. 2,250.34 crore) and Axis Bank (Rs. 1,998.49 crore).

The data provided by RBI to the Finance Ministry also revealed the involvement of bank staffs in fraud cases.

In the case of SBI, 64 employees were involved in fraud cases, while it was 49 for HDFC Bank and 35 for Axis Bank.

Rs. 17,750.27 crore.

Download the U4UVoice App Now:

Leave a Reply

Your email address will not be published. Required fields are marked *