New Delhi, 28/5:Bank frauds are on the rise with public sector lenders contributing the maximum to the fraud amount compared to the private sector banks, warns the RBI annual report published on Friday.
An assessment of bank group-wise fraud cases over the last three years indicates that while private sector banks reported a maximum number of frauds, public sector banks contributed the maximum to the fraud amount.
The data showed while the number of frauds by private sector banks was at 58.8 per cent of the total frauds committed in the banking system in 2021-22, the number of frauds reported was bigger in the public sector banks at nearly 67 per cent of the total banking frauds.
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