Indian banks lose â¹1.6 crore every hour to cheating, forgery
Indian banks lost â¹1.6 crore every hour in the last three financial years to "cheating and forgery", one of the eight categories of fraud listed by the RBI. Of the â¹42,226 crore lost due to cheating and forgery, 89% was lost by state-owned banks. India's largest lender SBI alone accounted for 15% of money lost by public sector banks.