Cases of banking fraud increased this year but the loss was less, RBI’s report card will surprise you.

Since Corona, as digital transactions are increasing in the country, the cases of banking fraud have also increased rapidly. Despite all the efforts of the Reserve Bank and the government, the year 2022 also remained in the name of banking fraud. The Reserve Bank has presented a report card on banking frauds in 2022. In this latest report of RBI, some shocking facts have come to light regarding bank fraud.

Cases increased but loss decreased

The Reserve Bank of India (RBI) on Tuesday said that there has been an increase in cases of banking frauds in the financial year 2021-22 but the amount involved in these cases has remained less than half as compared to a year ago. In a report titled ‘Trends and Progress of Banks in India’ for the financial year 2021-22, the RBI said that 9,102 cases involving frauds involving Rs 60,389 crore were reported in the last financial year. In the financial year 2020-21, the number of such cases was 7,358 and in these frauds of Rs 1.37 lakh crore were committed.

Fall in loan fraud cases

However, the lending activities showed a declining trend in the number of frauds. In the last financial year, such cases came down to 1,112 involving an amount of Rs 6,042 crore. In the financial year 2020-21, Rs 14,973 crore was involved in 1,477 cases of fraud.

Card and net banking cases increased

In this report, the RBI said, “In terms of the number of bank frauds, there is now more emphasis on card or internet transactions. Apart from this, frauds in cash are also increasing.” In these, cases of fraud involving Rs 1 lakh or more have been registered. Along with this, RBI said that Deposit Insurance and Credit Guarantee Corporation (DICGC) settled claims worth Rs 8,516.6 crore in the last financial year. A major part of this was the customers of the now defunct Punjab and Maharashtra Cooperative (PMC) Bank.