Frauds cost â¹18,170 crore to Indian banks in FY17: Report
Indian banking sector reported a total of 12,553 fraud cases worth â¹18,170 crore in fiscal 2016-17, according to a report by proxy advisory firm IiAS. Bank of Maharashtra registered the highest number of such cases at 3,893 and the amount involved stood at â¹2,041 crore. In terms of quantum, PNB reported the highest amount involved in frauds at â¹2,810 crore. 