Other banks which reported large number of frauds to the RBI during this period include Axis Bank with 189 such cases, Bank of Baroda reporting 176 and Citibank having 150 cases.
In terms of monetary value, SBI reported frauds worth Rs 2,236.81 crore, Punjab National Bank worth Rs 2,250.34 crore while Axis Bank reporting 1,998.49 crore rupees in frauds.
The data provided by RBI to the Finance Ministry shows involvement of the bank staff in fraud cases. 64 SBI employees, 49 HDFC Bank employees and 35 employees of Axis Bank were involved in fraud cases with the total number of such employees being 450.
In total, 3,870 cases of fraud have been reported during the period of April – December 2016 involving a total value of Rs 17,750.27 crore.
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